Everything else equal, the AC curve will shift downward if
a. input prices rise.
b. input MPPs rise.
c. output rises.
d. output falls.
b
Economics
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Suppose a country is producing $20 million of real GDP. If the economy grows at 10 percent per year, approximately how many years will to take for real GDP to grow to $80 million?
A) 14 B) 7 C) 4 D) 30
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On a world scale, how populous is the U.S. economy?
a. first b. second c. third d. fourth e. fifth
Economics
Under the old Soviet communist system, government planning was substituted for the _________________.
Fill in the blank(s) with the appropriate word(s).
Economics
If a firm's minimum efficient scale is relatively small compared to industry output, then only a few firms are needed to satisfy industry demand
Indicate whether the statement is true or false
Economics