If the quantity output and average cost at that output level are known, then it is possible to determine marginal cost for that output level.
Answer the following statement true (T) or false (F)
False
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Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 2%; scenario B has an average annual growth of 4%. The nation's real GDP would double in about
A. 36 years under scenario A, versus 18 years under scenario B. B. 36 years under scenario A, versus 9 years under scenario B. C. 18 years under scenario A, versus 9 years under scenario B. D. 25 years under scenario A, versus 12.5 years under scenario B.
In the Keynesian world a rising real money supply causes GDP to __________ by __________ the real interest rate which causes a(n) __________ in investment
A) increase; increasing; increase B) increase; decreasing; increase C) decrease; increasing; increase D) decrease; increasing; decrease
The implementation lag for monetary policy is
A. the same length as the recognition lag for monetary policy. B. the same length a the implementation lag for fiscal policy. C. longer than the implementation lag for fiscal policy. D. shorter than the implementation lag for fiscal policy.
The colluding oligopoly will face market demand and produce up until the point at which
A. price and marginal cost are equal and price will be set equal to marginal cost. B. marginal revenue and marginal cost are equal and price will be set above marginal cost. C. marginal revenue and marginal cost are equal and price will be set below marginal cost. D. price and marginal revenue are equal and price will be set below marginal cost.