Firms make a profit when they equate marginal revenue with marginal cost
Indicate whether the statement is true or false
False
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
A PPF can
A) shift outward but not inward. B) shift inward but not outward. C) shift inward or outward. D) shift neither inward nor outward.
The main reason the United States established a central bank was
A. a desire for a strong centralized financial authority. B. to follow the conclusions of economic theory. C. severe inflation after the Civil War. D. disastrous experiences with financial panics.
Total planned expenditures for domestically produced goods and services consist of
A. consumer spending, business spending, government spending, and import spending. B. consumer spending, business spending, and net export spending only C. government spending, business spending, and import spending only. D. consumer spending, business spending, government spending, and net export spending.