If a company's total costs per day increase from $200 to $400 by adding another worker, but its additional benefits are $300, it is sensible to add that additional worker.
Answer the following statement true (T) or false (F)
True
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Which of the following equations represents the equation of exchange?
A) PM = VY B) MY = PV C) MV = PY D) M = VP/Y
Assume a monopolistically competitive firm is earning an economic profit. The marginal revenue from selling an additional unit is $30 and the marginal cost of producing that additional unit is $23 . The firm should
a. change neither its price nor its output level b. reduce its price and increase its output level c. increase its price and reduce its output level d. reduce both its price and its output level e. increase both its price and its output level
Economists agree that large firms with big research budgets create most of the economy's technological progress
Indicate whether the statement is true or false
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.