When the value of money is on the vertical axis, the money supply curve is vertical and shifts right if the Federal Reserve buys bonds
a. True
b. False
Indicate whether the statement is true or false
True
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Lisa consumes only pizzas (P) and burritos (B). Her utility function is U = P0.5 B0.5. The price of per pizza is $10 and the price per burrito is $5. In equilibrium, Lisa consumes 4 pizzas
Using Lisa's utility function, calculate how many burritos she consumes.
As a firm moves along its long-run average cost curve, it is adjusting the size of its factory to the quantity of production
a. True b. False Indicate whether the statement is true or false
For a competitive firm, the value of output ___________ and the marginal product of labor ___________ with each additional worker hired.
A. stays constant; decreases B. increases; decreases C. increases; increases D. decreases; stays constant
According to the saving and investment equation, if net foreign investment rises by $60 million
A) national saving will fall by $60 million. B) private saving will fall by $60 million. C) national saving will increase by $60 million. D) domestic investment will rise by $60 million.