All Americans take advantage of public goods and merit goods to the same degree
Indicate whether the statement is true or false
F
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If the marginal cost curve is below the average variable cost curve
A. both average total cost and average variable cost are decreasing. B. average variable cost is less than average fixed cost. C. both average total cost and average variable cost are increasing. D. average total cost is increasing but average variable cost is decreasing.
Suppose a monopoly's inverse demand curve is P = 100 -Q, it produces a product with a constant marginal cost of 20, and it has no fixed costs
Compared to the consumer surplus if the market were perfectly competitive, consumer surplus is how much less when the monopolist practices perfect price discrimination? A) 3200 B) 1600 C) 800 D) 0
When the Fed buys a Treasury bill from the public, how does it usually pay for the T-bill?
a. by writing a check on a commercial bank account b. by printing new Federal Reserve notes c. by creating new reserves in bank accounts d. by prepaying taxes into the Treasury's account
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. neither the short-run nor long-run aggregate supply curves would be affected. B. only the long-run aggregate supply curve would shift left. C. only the short-run aggregate supply curve would shift left. D. the long-run and short-run aggregate supply curves would both shift left.