In the _____, all costs are _____
Fill in the blank(s) with the appropriate word(s).
Answer:
a. long run
b. variable
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Which of the following causes a leftward shift in the short-run aggregate supply curve?
a. An increase of goods prices while nominal incomes are unchanged. b. An increase of full-employment real GDP. c. An increase of personal consumption expenditures while the price level is unchanged. d. An increase in nominal incomes.
Suppose we are given that the value of a particular utility function is a constant. That is, U(X,Y) = c. Then, the total derivative of this relation is:
A. (?U/?X)dX + (?U/?Y)dY = c. B. (?U/?X)dX + (?U/?Y)dY = 0. C. (?Y/?X)dU + (?X/?Y)dU = c. D. (?Y/?X)dX + (?X/?Y)dY = 0.
Three uses of gdp data
What will be an ideal response?
If all goods are essential, a consumer will optimize at an interior solution.
Answer the following statement true (T) or false (F)