In the short run when the number of firms in the market is fixed, the market supply curve is just the horizontal sum of all the firms' marginal cost curves.
Answer the following statement true (T) or false (F)
True
To derive market supply, sum horizontally (holding price constant) across all the firms in the market.
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When Congress does not pass the necessary budget resolutions by the time the new fiscal year starts, they need to pass a ______ in order to keep agencies operating
a. budgetary extension b. continuing resolution c. continuing extension d. emergency budgetary declaration
When private property rights in a country are not secure, people cannot use their property as collateral for loans
a. True b. False Indicate whether the statement is true or false
The labor-force participation rate equals the percentage of the total adult population that is in the labor force
a. True b. False Indicate whether the statement is true or false
If an increase in investment causes an increase in real output beyond the full-employment level, the result will be
A. An increase in undesired inventories. B. An increase in the recessionary GDP gap. C. Cost-push inflation. D. Demand-pull inflation.