Total costs divided by output equals ______.
Fill in the blank(s) with the appropriate word(s).
ATC (average total cost)
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According to the equation of exchange, if velocity and real GDP do not change, a 3 percent increase in the quantity of money
A) raises the price level by 3 percent. B) raises the price level by 3 ÷ (velocity). C) raises the price level by less than 3 percent. D) lowers the price level by 3 ÷ (real GDP). E) lowers the price level by 3 percent.
Which of the following mergers would most likely be challenged by the Federal Trade Commission?
A) two restaurants in a large metro area B) two largest wireless service providers in the U.S. wireless communication industry C) an automaker and an insurance company D) one oil refinery in the U.S. and another oil refinery in Canada
When an exchange rate is established as a fixed peg, active intervention may be required to maintain the target-pegged rate
a. True b. False Indicate whether the statement is true or false
Efficiency wages contribute to
a. frictional unemployment and the natural rate of unemployment. b. frictional unemployment but not the natural rate of unemployment. c. structural unemployment and the natural rate of unemployment. d. structural unemployment but not the natural rate of unemployment.