Incomes policies reject wage-price controls and guidelines
a. True
b. False
Indicate whether the statement is true or false
False
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By using more labor to produce more output, a firm can always reduce its
A) marginal cost. B) average variable cost. C) average total cost. D) average fixed cost.
Average revenue is
a. total revenue minus total cost b. total revenue divided by quantity of output c. total revenue divided by quantity of input d. the change in total revenue divided by the change in output e. the change in total revenue divided by the change in the quantity of an input used
Economic profits are: a. less than accounting profits if implicit costs are greater than zero. b. less than accounting profits even if implicit costs are zero
c. greater than accounting profits if implicit costs are greater than zero. d. greater than accounting profits even if implicit costs are zero.
Suppose speculators lost confidence in foreign economies and bought more U.S. bonds. How would this affect net exports in the U.S., and which way would this cause the aggregate demand curve to shift?