The marginal product of the variable input
A) is always positive.
B) typically falls then rises.
C) is equal to the total product divided by the total amount of the variable input employed.
D) None of the above
D
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Assuming perfect capital mobility and a fixed exchange rate, then an increase in government spending shifts
a. the IS schedule only. b. both the IS and LM schedules to the left. c. both the IS and LM schedules to the right. d. the LM schedule to the left and the IS schedule to the right.
Break-even quantity is a point where
a. the level of profit is maximized b. the level of cost is minimized c. Only variable costs are covered d. There are zero profits
The exchange rate is the
A. Balance-of-trade ratio of one country to another. B. Opportunity cost at which goods are produced domestically. C. Amount of currency that can be purchased with one ounce of gold. D. Price of one country's currency expressed in terms of another country's currency.
If a monopolistically competitive firm's demand curve is shifting left, it will stop shifting when:
A. the price is the same as what a perfectly competitive firm's price would be. B. the price is equal to the firm's marginal cost. C. the price is equal to the firm's average total cost. D. there is no deadweight loss.