In the short run, average fixed cost is constant as output increases
Indicate whether the statement is true or false
FALSE
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Holding other factors constant, if employers automatically enroll employees in retirement savings programs in order to overcome psychological barriers to saving, then the real interest rate will ________ and the equilibrium quantity of saving and investment will ________.
A. increase; decrease B. increase; increase C. increase; not change D. decrease; increase
All of the following are programs that redistribute income by making direct payments to people in the lower part of the income distribution EXCEPT
A) social security programs. B) welfare programs. C) Individual Retirement Accounts. D) unemployment compensation.
In 1860, ______________ was the top industry as ranked by value added
a. cotton goods b. boots and shoes c. men's clothing d. iron
Suppose the economy is at a position below its institutional production possibilities frontier. To improve this situation, Keynesian economists might propose that government __________ taxes, which will cause the aggregate demand curve to shift to the __________ and Real GDP will __________
A) increase; right; increase B) increase; left; decrease C) decrease; left; decrease D) decrease; right; decrease E) decrease; right; increase