Other things the same, as the price level falls,
a. the dollar depreciates.
b. the interest rate rises.
c. people feel less wealthy.
d. All of the above are correct.
a
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Answer the next question on the basis of the following data. OutputTotal Cost0$24133241348454561669If the marginal cost of the seventh unit of output is $9, then the total cost of producing seven units is
A. $78. B. $84. C. $80. D. unknown.
A negative externality is the same thing as an external cost
Indicate whether the statement is true or false
The marginal physical product of a factor of production is equal to the additional revenue generated from employing one additional unit of the factor.
Answer the following statement true (T) or false (F)
According to the ________ economists, those who are not working have chosen not to work at the market wage.
A. neo-Marxist B. Keynesian C. classical D. modern monetarist