Monetary policy should be countercyclical, which implies that it should be loosened during a recession and tightened during periods of inflation
a. True
b. False
Indicate whether the statement is true or false
True
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Is it possible for the average fixed cost curve to have the shape depicted above? Explain
What will be an ideal response?
The formula for calculating the CPI is
A) (Expenditures in the current year × Expenditures in the base year)/100. B) (Expenditures in the base year/Expenditures in the current year). C) (Expenditures in the base year × 100)/(Expenditures in the current year). D) (Expenditures in the current year/Expenditures in the base year) × 100.
The change in quantity demanded derived from a change in price is
a. the movement along a demand curve b. the movement along a supply curve c. a shift in the demand curve d. a shift in the supply curve
Due to the impact of increasing returns to scale, smaller firms can produce at a lower average total cost than larger firms
a. True b. False Indicate whether the statement is true or false