The long-run average total cost curve is always
a. flatter than the short-run average total cost curve, but not necessarily horizontal.
b. horizontal.
c. falling as output increases.
d. rising as output increases.
a
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Refer to the graph below, which shows an aggregate demand curve. If the price level decreases from 200 to 100, the real output demanded will:
A. Increase by $800 billion
B. Increase by $200 billion
C. Decrease by $600 billion
D. Decrease by $200 billion
What is the capital accumulation equation used by Solow?
What will be an ideal response?
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table.ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50The variance in the returns of project B is:
A. 225. B. 1,600. C. 0. D. 900.
Refer to the information provided in Figure 7.3 below to answer the question(s) that follow. 
Figure 7.3Refer to Figure 7.3. The marginal product of the first worker is ________ yards raked.
A. 10 B. 13.5 C. 17 D. 27