Producers will change their prices when GDP is at the equilibrium level
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following is true of America's millionaires?
a. Only about 20 percent of the millionaires in the United States have college degrees. b. It is virtually impossible to achieve this status by saving and investing over a lengthy period of time. c. Most millionaires inherited at least half of their wealth. d. Millionaires are far more likely than others to be self-employed entrepreneurs
The optimal number of trucks is
Consider the following production function for a delivery service.
Each delivery generates $200 in gross revenue, and the tax rate is 10 percent on profits. Each truck costs $11,000.
a) 1
b) 2
c) 3
d) 4
e) 5
To be a member of the Internal Monetary Fund a nation must deposit funds based on
A. the need to loan money to developing nations. B. its national income. C. rules set up by the World Bank. D. the amount of funds it wants to deposit.
Total product will start to decrease
A. when marginal physical product becomes negative. B. when marginal physical product increases. C. when average physical product decreases. D. at the quantity where the law of diminishing returns starts.