As populations age, public spending tends to increase
Indicate whether the statement is true or false
TRUE
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At its current level of output, a firm’s average cost is $25 and its marginal cost is $20. If the firm increases output by one unit and marginal cost is $22, average cost will be
A. greater than $25. B. equal to $25. C. less than $25. D. equal to marginal cost.
When a perfectly competitive market is in long-run equilibrium, each firm's price equals
a. both marginal cost and average total cost b. marginal cost, but exceeds average total cost c. marginal cost, but falls below average total cost d. average total cost, but exceeds marginal cost e. average total cost, but falls below marginal cost.
State-chartered banks that are members of the _____________ System are examined by the Federal Reserve.
Fill in the blank(s) with the appropriate word(s).
Based on the model of the money market, if the Federal Reserve increases the reserve requirement, the equilibrium interest rate should
A) stay the same. B) increase. C) decrease. D) increase to the same extent that the demand for money increases.