Higher input prices in large firms might lead to:
A. horizontal marginal cost curves.
B. downward-sloping marginal cost curves.
C. downward-sloping long-run average cost curves.
D. upward-sloping long-run average cost curves.
Answer: D
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Advertising has no effect on the demand schedule for a good.
Answer the following statement true (T) or false (F)
Recessions in the U.S. economy show up in economic data as periods of
A) declining prices. B) rising interest rates. C) slower growth or actual decline in nominal GDP. D) slower growth or actual decline in real GDP.
Neoclassical economists believe that government policy should focus on creating a market-oriented environment that rewards________________.
a. importing b. exporting c. innovation d. production
How much is the tax?
A. 10 cents
B. 20 cents
C. 30 cents
D. 40 cents