Monetarists argue that the Treasury's conduct of fiscal policy is the most important factor affecting real GDP and interest rates
a. True
b. False
Indicate whether the statement is true or false
False
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A manager of a clothing firm is deciding whether to add another factory in addition to one already in production. The manager would compare a. The total revenue gained from the two factories to the total costs of running the two factories
b. The marginal revenue expected from the second factory to the total costs of running the two factories. c. The marginal revenue expected from the second factory to the marginal cost of the second factory. d. The total revenue gained from the two factories to the marginal costs of running the two factories.
Elijah has just eaten his second popsicle. Using the concept of marginal utility, we can say:
A. the utility he will gain from his third will reduce his total utility. B. the utility he will gain from his third will not reduce his total utility. C. the utility he will gain from his third will be less than that of his second but will increase his total utility. D. the utility he will gain from his third will be less than that of his second and may reduce his total utility.
A nation has an unfavorable balance of trade when
a. it has a surplus in its balance of payments b. it has a deficit in its balance of payments c. the value of its imports of goods is greater than the value of its exports of goods d. its current account is in surplus and its capital account is in deficit e. it has high tariffs
Refer to the table shown. The average fixed cost of producing 5 units of output is:Units of outputTotal cost05111216320423525626
A. $0. B. $1. C. $2. D. $3.