If the dollar appreciates and the U.S. AD curve shifts _______________ by an amount less than the U.S. SRAS curve shifts __________________, then Real GDP will _________________________
A) rightward; leftward; increase
B) rightward; leftward; decrease
C) leftward; rightward; increase
D) leftward; rightward; decrease
C
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Total profit is maximized
A. where the difference between total revenue and total cost is greatest. B. at that output level where marginal revenue equals average cost. C. where total revenue is at a maximum. D. at the point where all variable costs are covered.
Unemployment that is of a short duration to allow time to find a new job is:
A. structural unemployment. B. cyclical unemployment. C. frictional unemployment. D. durational unemployment.
After some point successive equal increases in a variable factor of production, when added to a fixed amount of inputs, will result in smaller increases in output. This is known as
A. marginal physical product. B. the long run. C. the law of diminishing marginal product. D. short run average cost.
Which person would most likely interject burdensome restrictions to avoid lawsuits?
A) public information officer B) county attorney C) patrol officer D) county auditor