The average variable cost curve and the average total cost curves are intersected at their __________ by the marginal cost curve.
Fill in the blank(s) with the appropriate word(s).
minimum points
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The demand for money ________ when the ________
A) increases; nominal interest rate increases B) decreases; price level increases C) increases; supply of money decreases D) remains constant; price level increases E) increases; price level increases
Refer to the information above. What is the approximate value of the multiple of combined physical and human capital that the rich country must have in order to produce 10 times the output per person of the poor country?
A) 1000 B) 100 C) 25 D) 15
Suppose that an increase in aggregate demand causes an unplanned depletion in business inventories. Which of the following situations will result from this?
a. The economy moves up the short-run Phillips curve. b. The short-run Phillips curve shifts to the right. c. The short-run Phillips curve shifts to the left. d. The aggregate supply curve shifts to the left. e. The economy moves down the short-run Phillips curve.
If a firm with total revenue of $2 million continues to operate in the short run, we may conclude that its variable costs are __________.
Fill in the blank(s) with the appropriate word(s).