The firm's average cost curve is the result of cost minimization in the use of fixed inputs
a. True
b. False
Indicate whether the statement is true or false
False
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The purpose of antitrust legislation is
A) to reduce unemployment. B) to reduce the power of monopoly. C) to increase the power of monopoly. D) to maximize employment for a given price level.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
In the 1970s, the Fed selected an interest rate as an operating target rather than a reserve aggregate primarily because it
A) had no interest in targeting a monetary aggregate, as evidenced by its unwillingness to target a reserve aggregate. B) was still very concerned with achieving interest rate stability. C) was committed to targeting free reserves. D) was committed to the real bills doctrine.
The question of scarce resources and unlimited wants is addressed in
a. psychology b. history c. political science d. economics e. anthropology