As output increases, the ATC
a. increases.
b. decreases.
c. remains constant.
d. falls and then rises.
d. falls and then rises.
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Suppose velocity is 3, real output is 9000, and the price level is 1.5. What is the level of real money demand in this economy?
A) 2000 B) 3000 C) 6000 D) 30,000
Of the three levels of government in the United States,
a. only the federal government provides public goods b. only the federal government has the power to tax c. local governments are primarily responsible for primary and secondary education d. the federal government is primarily responsible for higher education e. state governments are primarily responsible for economic stability
Which of the following is likeliest to have decreased at point D?
a. disposable income
b. household assets
c. household spending
d. the tax rate
According to economic historians, one result of international trade is that it
A) aids in the international transmission of ideas. B) reduces the world-wide output of goods. C) reduces the world-wide consumption of goods. D) causes persistent world-wide inflation.