When average variable cost is at its minimum level, marginal product _________
A. equals average product
B. exceeds average product
C. is less than average product
D. is at its maximum level
D Figure 10.7 in the textbook shows that D is the correct answer.
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
As you move up along a straight-line demand curve,
A) the price elasticity of demand decreases in size. B) the price elasticity of demand increases in size. C) total revenue always decreases. D) total revenue always increases. E) total revenue never changes.
What is the distinction between gross investment and net investment?
What will be an ideal response?
If the official unemployment rate increases from December to January because the Christmas season is over, we can conclude that _____ is responsible for the increase
a. seasonal unemployment b. cyclical unemployment c. structural unemployment d. frictional unemployment e. underemployment