Economies of scale are created by greater efficiency of capital and by
A) longer chains of command in management.
B) better wages for labor.
C) smaller plant sizes.
D) increased specialization of labor.
D
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The Fed's eclecticism reflects:
A. A combination of flexible rules and limited discretion. B. Fixed rules that are set for monetary growth rates. C. Discretionary policy but not rules. D. The targeting of interest rates as the primary goal to be achieved by monetary policy.
The impact of an increase in the price of a particular good is illustrated as a
A) leftward shift in its demand curve. B) rightward shift in its demand curve. C) movement upward and to the left along its demand curve. D) movement downward and to the right along its demand curve. E) rightward shift in its demand curve and a movement upward and to the left along its demand curve.