Microeconomics can be used by governments to predict the impacts of a policy and suggest solutions to problems
Indicate whether the statement is true or false
True . Microeconomics models can be used to examine the effects of a policy, and can provide insight into possible solutions to economic problems.
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If inflation turns out to be higher than was anticipated, debtors are helped because
A) the real present value of their payments increases. B) the real present value of their payments decreases. C) the nominal present value of their payments increases. D) the nominal present value of their payments decreases.
If an average cost curve is U-shaped, then:
a. costs per unit remainconstant throughout the entire range of production. b. costs per unit fall throughout the entire range of production. c. costs per unit increase throughout the entire range of production. d. costs per unit first rise, then reach a maximum, and then begin to fall as output is increased. e. costs per unit first fall, then reach a minimum, and then increase as output is increased.
An effective craft union acts as a monopoly
a. demander of labor. b. seller of labor. c. demander of capital. d. seller of capital.
Which of the following are sources of increased productivity?
A. Improved labor skills achieved by on the job training B. Increases in the amount of capital per worker C. Technological advances D. All of the above are sources of increased productivity.