The welfare rolls today are
A. much higher than they were in 1994.
B. A little higher than they were in 1994.
C. a little lower than they were in 1994.
D. much lower than they were in 1994.
D. much lower than they were in 1994.
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Changes in consumer confidence, business optimism, government spending, and foreign events that cause economic volatility are known as
A) Supply Shocks. B) Demand Shocks. C) Aggregate Demands. D) Real Business Cycles.
Which of the following statements is true?
A. Competitive firms will respond less to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost. B. Competitive firms will respond more to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost. C. Competitive firms will respond less to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost. D. Competitive firms will respond more to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost.
A perfectly competitive firm's short-run supply curve is the:
a. demand curve above the marginal revenue curve. b. same as the market supply curve. c. marginal cost curve above the average variable cost curve. d. average total cost curve.
A variable measures:
A. something that always has the same value. B. something that can take on different values. C. factors that occur with high degrees of uncertainty. D. the degree to which something varies over time.