If at 4,000 units, the price the firm can charge is higher than its AVC and lower than its ATC, then the firm will earn a profit
Indicate whether the statement is true or false
F
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
If the government wishes to decrease GDP by $2,000b, and the MPC is 0.6, it should:
A. increase its spending by $800b. B. decrease its spending by $800b. C. decrease its spending by $1,200b. D. increase its spending by $1,200b.
Which one of the following would not affect the position of the supply curve for cranberries?
A. the popularity of cranberry drinks B. the cost of fertilizers for cranberry production C. the number of sellers in the market D. development of a new pest control for cranberries
The MFC can be calculated by the
A. total wages/total labor. B. change in labor/change in total wages. C. change in total wages/change in labor. D. total wages/change in labor.