Suppose a firm is considering producing zero units of output. We call this shutting down in the short run and exiting an industry in the long run
a. True
b. False
Indicate whether the statement is true or false
True
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The figure below shows the demand for items from a warehouse club. All of the people who shop at the warehouse club have the same demand. If the managers use two-part pricing, the price per item (the user fee) is ________ and the company sells ________ units to each customer.
A) $6 per unit; 10
B) $10 per unit; 10
C) $6 per unit; 20
D) $10 per unit; 20
Higher interest rates make it:
A. more expensive to borrow. B. harder to get a loan typically. C. easier to get a loan typically. D. less expensive to borrow.
Which of the following countries experienced a decline in total output from 2000 to 2015?
A. Burundi. B. Canada. C. Zimbabwe. D. China.
The costs of disinflation would be low if
A. the Phillips curve were nearly horizontal. B. the Phillips curve adjusted slowly to changes in inflation. C. wage and price controls were used. D. expected inflation falls as inflation falls.