The best explanation for ________ is a fixed factor causes diminishing returns to other factors.
A. a horizontal marginal revenue curve
B. a perfectly competitive firm earning economic profits in the long run
C. the shape of a short-run marginal cost schedule
D. increasing returns to scale
Answer: C
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An indifference curve is a line that shows combinations of goods among which a consumer
A) needs equally. B) does not care which combination he or she receives. C) can afford. D) has readily available.
To reach general equilibrium, the price level adjusts to shift the ________ until it intersects with the ________
A) IS curve; FE line and LM curve B) FE line; LM and IS curves C) LM curve; FE line and IS curve D) ND curve; FE line and NS curve
What were the contributing factors that led to Argentina's initial adoption of a currency board and then its subsequent failure?
What will be an ideal response?
When PAE decreases then the economy will move towards:
A. constant levels of GDP. B. higher levels of equilibrium aggregate expenditure. C. lower levels of equilibrium GDP. D. higher levels of equilibrium GDP.