________ growth is said to occur when a country's welfare falls as the country grows

The reduction in average cost resulting from an increase in the volume of a good or services produced is called:

A) information cost B) transaction cost C) diminishing returns D) economies of scale

The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:

A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.