Based on the graph showing rational expectations and the AD/AS model, the change caused by expansionary policies is ______.
a. higher price levels
b. lower unemployment
c. higher RGDP
d. lower price levels
a. higher price levels
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The smallest quantity of output at which long-run average cost is at a minimum is a firm's ________
A) maximum efficient scale B) profit-maximizing output point C) minimum efficient scale D) efficient output point
Discounting allows comparisons of
A. money values and physical values. B. interest payments on borrowed funds and interest payments on loaned funds. C. money values received at different times. D. the quantities of outputs produced by different types of capital goods.
Proprietorships:
A.) Dominate market transactions. B.) Are owned by many individual stockholders. C.) Are known for their large assets. D.) Are the most common type of business firm.
In markets characterized by oligopoly,
A. entry into the market is restricted so that profit may be positive in the long run. B. a large number of relatively large firms sell a differentiated product. C. mutual interdependence of firms means that actions of any one firm in the market will have no effect on the sales of all other firms in the market. D. a small number of relatively small firms sell a standardized product.