If the average variable cost curve is below the marginal cost curve, then
A. marginal costs can be either increasing or decreasing.
B. marginal costs must be decreasing.
C. marginal costs must be increasing.
D. average variable costs must be decreasing.
Answer: C
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In 2008 the money wage rate in Ireland increased by 4 percent while the price level increased by 8 percent. As a result, Ireland's
A) short-run aggregate supply curve shifted leftward. B) short-run aggregate supply curve shifted rightward. C) long-run aggregate supply curve shifted rightward. D) short-run and long-run aggregate supply curves shifted rightward.
Long-run aggregate supply reflects
A) total production in the economy at full employment. B) total spending in the economy at full employment. C) both production and spending in the economy. D) only foreign production from U.S. subsidiaries.
What factors are held constant along a given demand curve for a good?
a. the price of the good b. the technology used to produce the good c. the supply of the good d. consumer incomes and the prices of other goods
In banking terminology, what is meant by maturity? What is meant by maturity transformation?
What will be an ideal response?