The portion of the marginal cost curve above the minimum point on the average variable cost curve is part of the perfectly competitive firm's
a. average revenue curve
b. effective demand curve
c. average variable cost curve
d. supply curve
e. total revenue curve
D
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________ provides health benefits to people with low incomes, and ________ provides health benefits to most people over the age of 65.
A. Medicare; Medicaid B. Medicare; the Temporary Assistance to Needy Families (TANF) program C. Medicaid; the Temporary Assistance to Needy Families (TANF) program D. Medicaid; Medicare
Which of the following statements about the Sherman Act is CORRECT?
A) The Sherman Act was the second federal antitrust law. B) The Sherman act legalized monopolization if the company behaved "reasonably" once it became a monopoly. C) The Sherman Act outlawed natural monopolies. D) The Sherman Act made restriction of interstate trade illegal.
In an open economy, injections and leakages are related as:
A) I + G = S + T. B) I + G + X = S + T + M. C) X + G = T + M. D) none of the above
If the public debt increased by the same amount each year during the past three years, then
A) the U.S. government must have operated with the same budget surpluses during the past three years. B) the U.S. government must have experienced budget surpluses that increased by the same amount each of the past three years. C) the U.S. Treasury must have issued securities to fund a flow of government spending that exceeded a flow of tax revenues by the same amount during each of the past three years. D) during each of the past three years, the U.S. Treasury must have bought back the same amount of securities that had previously been issued to cover deficits experienced more than three years ago.