One result of an unanticipated reduction in aggregate demand would be that
A) fewer firms would be hiring.
B) more firms would be hiring.
C) there would be no change in hiring.
D) the price level would rise.
A
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Which of the following is an implicit cost?
a. salaries paid to owners who work for their own firm b. interest on money borrowed to finance equipment purchases c. cash payments for raw materials d. wages paid to hourly employees e. foregone interest on money taken from bank accounts to buy equipment
"An industry's short-run supply curve is constructed by adding horizontally all the average variable cost curves of firms in that industry." Do you agree or disagree? Why?
What will be an ideal response?
It is possible that an increase in wages will lead to a decrease in the quantity of labor supplied.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom's budget constraint is AC. At which point does Tom consume only hot dogs?
A. A. B. B. C. E. D. D.