The expansion path sloping __________ means as the firm expands each input is used more and more.
Fill in the blank(s) with the appropriate word(s).
Ans: upward
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Which of the following best describes supply-side economics?
A) Education affects the incentive to work, save, and invest and, therefore, aggregate supply. B) Tax rates, particularly marginal tax rates, affect the incentive to work, save, and invest and, therefore, aggregate supply. C) Labor productivity affects aggregate supply. D) Education affects labor productivity which affects aggregate supply.
Total fixed cost
a. varies with the level of output. b. has a downward-sloping curve. c. has an upward-sloping curve. d. is constant at all levels of output.
Larry spends all his $800 monthly income on pizza and milk. The price of pizza is $4 a slice, and the price of milk is $2 per quart. Larry's real monthly income in terms of pizza is
A) 400 slices. B) $800. C) 200 slices. D) $400.
A forward exchange market contract obligates the owner to make a trade at a specified exchange rate a fixed number of days in the future
Indicate whether the statement is true or false