A firm's long-run average cost curve is derived from a series of short-run average total cost curves
Indicate whether the statement is true or false
TRUE
You might also like to view...
When the output gap is positive, it represents ________ gap, and when it is negative, it represents ________ ga
A) a recessionary; an inflationary B) an inflationary; a recessionary C) an inflationary; an employment D) an employment; an unemployment E) None of the above answers is correct.
Refer to the scenario above. The optimal strategy for Rachel is to bid a price:
A) above her willingness to pay. B) equal to half the amount she is willing to pay. C) equal to 5/6 times her willingness to pay. D) up to her willingness to pay.
In a study conducted by Marianne Bertrand and Sendhil Mullianthan, identical resumes were sent in response to help wanted ads in newspapers, with half of the resumes assigned an African-American-sounding name and half assigned a white-sounding name
The study found that A) employers were 50 percent more likely to interview workers with African-American-sounding names. B) employers were equally likely to interview workers with white-sounding names and with African-American-sounding names. C) employers were 50 percent more likely to interview workers with white-sounding names. D) no employers chose to interview workers with African-American-sounding names.
According to classical macroeconomic theory,
a. the price level is sticky in the short run and it plays only a minor role in the short-run adjustment process. b. for any given level of output, the interest rate adjusts to balance the supply of, and demand for, money. c. output is determined by the supplies of capital and labor and the available production technology. d. All of the above are correct.