If a country experiences economies of scale in the production of a good, it implies that ______________
Fill in the blank(s) with the appropriate word(s).
Answer: the long-run average cost of production falls as the scale of operation expands.
Economics
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The Illyrian economy has 1000 people in the labor force. 100 people don't have jobs but are searching for work, another 100 people would like to have jobs but quit searching because of poor job prospects, and another 100 people don't work and don't
want to work. What's the rate of unemployment? A) 10 percent B) 20 percent C) 30 percent D) 100 percent E) None of the above.
Economics
Under Alan Greenspan and Ben Bernanke, the Federal Reserve was successful in pursuing a ________ policy
A) preemptive B) inflation targeting C) exchange rate targeting D) monetary targeting
Economics