________ is a period of falling prices of goods and services in an economy
Fill in the blank(s) with correct word
Deflation
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Suppose Sarah owns a small company that makes wedding cakes. The table below shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number ofCakes Per DayTotal CostPer Day0$1001$1802$2203$3004$4005$5206$660If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then at her profit-maximizing level of output, Sarah's profit will be ________ per day.
A. $90 B. $625 C. $105 D. $100
Adam Smith’s book, one of the first systematic treatments of economics, was entitled
A. The Plan of the Ages. B. The General Theory of Money, Taxes, and Income. C. The Wealth of Nations. D. Principles of Economics. E. Concepts in Moral Philosophy.
If the supply of lower-skilled workers exceeds the demand, then average wages in the lower quintiles of the income distribution will:
a. increase. b. decrease. c. require government supplementation. d. equalize.
If the multiplier equals 2 and the AD shortfall is $6 million, the desired fiscal stimulus is
A. $12 million. B. $333,333. C. $6 million. D. $3 million.