Which of the following are goals for monetary policy?
A. Controlling rents
B. Preventing boom and bust cycles in the economy
C. Controlling world oil prices
D. Monitoring corruption in the securities industry
Answer: B
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If a perfectly competitive firm produces an output level at which price is less than marginal costs, then the firm should:
A. expand output to earn greater profits or smaller losses. B. reduce output to earn greater profits or smaller losses. C. leave its output level unchanged provided it is covering its variable cost. D. raise its price.
A credit item is an item for which a country must pay.
Answer the following statement true (T) or false (F)
The Keynesian short-run aggregate supply curve is demonstrated graphically as a
A. downward sloping curve. B. upward sloping curve. C. horizontal line. D. vertical line.
Refer to the table below. Over what range of output are economies of scale experienced by this firm?
Plant sizes get larger as you move from ATC-1 to ATC-4.
A. 1500 to 3000
B. 1500 to 3500
C. 2000 to 3500
D. 2000 to 4000