The marginal cost curve intersects the average total cost curve at its minimum point.
Answer the following statement true (T) or false (F)
True
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Christina Romer argued that
A) measured properly, GNP before 1929 varied substantially less over time than the official statistics showed. B) measured properly, GNP after 1929 varied substantially more over time than the official statistics showed. C) measured properly, economic expansions after 1929 were shorter than the official statistics showed. D) measured properly, economic expansions before 1929 were shorter than the official statistics showed.
The dictator of a country requires that companies planning to open or expand must pay a large fee to file an application one year prior to building new factories or expanding existing ones. Other things the same, in the long run this requirement would
a. reduce real GDP per person and productivity. b. reduce real GDP per person but not productivity. c. reduce productivity but not real GDP per person. d. None of the above is correct.
The In the News article titled "Great Recession Officially Ended Last Year" came out over a year after the recession was statistically declared over. Which of the following obstacles does this article address?
A. Implementation problems. B. Measurement problems. C. Design problems. D. Goal conflicts.
According to the following graph, what is Y1?
The consumer's income is $1,200.
A. 110 B. 30 C. 80 D. 120 E. none of the above