If a firm has reached the minimum efficient scale, any additional output produced by the firm will result in a lower average cost in the long run.
Answer the following statement true (T) or false (F)
False
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If the government finances an increase in government purchases with an increase in taxes, which of the following would you expect to see?
A) a decrease in the interest rate B) a decrease in aggregate demand C) an increase in the exchange rate D) an increase in net exports
If you buy a futures contract for U.S. Treasury bills and on the delivery date the interest rate on T-bills is lower than you expected, you will have
A) lost money on your long position. B) gained money on your long position. C) lost money on your short position. D) gained money on your short position.
Bonds differ from stocks in all of these ways except
A. a purchase of corporate stock becomes a part owner of the corporation, while a bondholder does not. B. bondholders loan money to the corporation, which has priority for repayment, while stockholders may lose their investment. C. stockholders know with a high degree of certainty how much money they will get, while bondholders do not. D. All of these responses are correct.
Which of the following represents the resource supply curve faced by a firm that hires resources in a perfectly competitive resource market?
a. its ATC curve b. its AVC curve c. its MRP curve d. its MRC curve e. its AFC curve