The net result of increased quantities of the factors of production should be: (check all that apply)
a. economic stagnation
b. expanded potential output
c. economic growth
d. inflation
e. equal production amounts of both consumer goods and capital goods
b. expanded potential output
c. economic growth
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If consumers believe the price of tablet computers will increase in the future, this will cause the demand for tablet computers to decrease now
Indicate whether the statement is true or false
________: the slope of the aggregate consumption function
Fill in the blank(s) with correct word
Public goods are characterized by the free-rider problem because
A) no one can be excluded from the benefits of public goods once they are produced. B) public goods are usually things that people really do not want to consume. C) public goods are characterized by the principle of rival consumption. D) public goods can easily be subdivided into small units.
Refer to the above table. What is MC when output rises from 0 unit to 1 unit?
A. $90 B. $0 C. $25 D. $115