We say that a business is operating at peak efficiency when its __________ is held to a minimum.
A. average total cost
B. average variable cost
C. marginal cost
D. price
A. average total cost
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The Consumer Price Index is based on the price level of a basket of goods and services that represents the purchases of an average consumer
a. True b. False Indicate whether the statement is true or false
Financial crises seldom involve economic downturns
a. True b. False Indicate whether the statement is true or false
Which of the following statements about GDP is correct?
a. GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy's output of goods and services. b. Money continuously flows from households to firms and then back to households, and GDP measures this flow of money. c. GDP is generally regarded as the best single measure of a society's economic well-being. d. All of the above are correct.
? Along the short-run aggregate supply curve (SRAS), an increase (rightward shift) in the aggregate demand curve will increase:
A. ?both the price level and real GDP. B. real GDP without raising the price level. C. the price level without affecting real GDP. D. ?the price level but reduce real GDP.