Kaitlyn and Larissa have formed a dog bathing and grooming business business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the first dog in a day is bathing ________ dog(s)
A) 1 B) 2 C) 24 D) 25
B
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________ could result in a recession because it would ________
A) An increase in government expenditures on goods and services; shift the AD curve to the right. B) An increase in the quantity of money; shift the AS curve to the right. C) An increase in investment; shift the AD curve to the right. D) A tax cut; shift the AS curve to the left. E) A rise in the price of oil; shift the AS curve to the left.
If the money wage rate increases, then the
A) aggregate supply curve shifts rightward. B) potential GDP increases. C) potential GDP decreases. D) aggregate supply curve shifts leftward. E) aggregate demand curve shifts leftward.
The natural real GDP will ________ following a fall in energy prices because
A) rise; labor productivity increases. B) fall; labor productivity declines. C) rise; employment is more attractive relative to leisure. D) A and C are both correct
When a firm's average total cost curve continually declines, the firm is a
a. government-created monopoly. b. natural monopoly. c. revenue monopoly. d. All of the above are correct.