Refer to the information provided in Figure 28.6 below to answer the question(s) that follow.
Figure 28.6Refer to Figure 28.6. Panel C represents the typical shape of the
A. short-run Phillips curve.
B. long-run Phillips curve.
C. short-run aggregate supply curve.
D. short-run aggregate demand curve.
Answer: B
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Suppose that TC = $550, TVC = $500, and MC = $100. If the firm produces 10 units of output, then
A. MC > AVC. B. AVC > MC. C. AVC = MC. D. AFC = AVC.
Which of the following functions express the money multiplier (m) for the narrowly defined money stock (M1)?
a. m = ?Ms/?(MB) = m(rrd) b. m = ?Ms/?(MB) = m(rrd, CU/D, ER/D) c. m = ?Ms/?(MB) = m(rrd + CU/D) d. m = ?Ms/?(MB) = m(rr/D, CU/D, RR/D)
The existence of many discouraged workers in an economy may cause us to
a. overstate the employment rate b. understate the employment rate c. overstated the unemployment rate d. understate the unemployment rate e. overstate the value of GDP
By purchasing shares in a mutual fund that holds a portfolio of stocks, a person can
a. benefit from fundamental analysis, since the mutual fund requires its shareholders to perform fundamental analysis on their own. b. benefit from fundamental analysis, since the mutual fund hires one or more individuals to perform fundamental analysis for the fund. c. eliminate market risk. d. reduce the standard deviation of his or her portfolio to zero.