Which of the following is not a source of economies of scale?
A. Learning-by-doing.
B. Labor specialization.
C. Use of larger machines.
D. Inelastic resource supply curves.
Answer: D
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A major drawback of the Keynesian approach to macroeconomic equilibrium is the assumption that the supply of goods and services in the economy always adjusts to aggregate expenditures
a. True b. False Indicate whether the statement is true or false
Which of the following is considered to be the main disadvantage of the sole proprietorship form of business organization?
a. The proprietor and the firm are legally inseparable. b. The proprietor has personal independence. c. The focus of the proprietorship is on local markets. d. The access to local and family labor promotes legal dependence. e. The lack of a bureaucratic structure impedes growth.