In an open economy, an increase in government spending will cause
A) a reduction in domestic output.
B) a reduction in imports.
C) a reduction in net exports.
D) all of the above
E) none of the above
D
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A firm's cost of variable inputs per unit of output is known as
a. average total cost b. average fixed cost c. marginal cost d. total variable cost e. average variable cost
Unemployment caused by permanently decreased demand for horse - drawn carriages is an example of
A) frictional unemployment. B) discouraged unemployment. C) seasonal unemployment. D) structural unemployment. E) cyclical unemployment.
What are the major components of the current account in the balance of payments? How is the current account balance determined?
What will be an ideal response?
The figure above shows the demand curve, marginal revenue curve, and marginal cost curve
The amount of consumer surplus when the market has a monopoly producer is ________ and the amount of consumer surplus when the market is perfectly competitive is ________. A) abf; ace B) abf; bcd C) ace; bcd D) ace; abf E) bcd; ace