The market supply curve is always closer to the vertical axis than the individual supply curves
a. True
b. False
Indicate whether the statement is true or false
False
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A curve that shows the cost to the firm of hiring an additional unit of a resource is known as a
a. marginal product curve b. marginal revenue product curve c. total revenue product curve d. marginal revenue curve e. marginal resource cost curve
If it's possible to eliminate the problems created by externalities, why do they persist?
A. Correcting externalities would always reduce total surplus. B. It is difficult to measure external benefits and costs. C. The benefits of correcting the externalities generally exceed the costs. D. None of these statements is true.
Which of the following would shift the aggregate expenditure line upward?
a. an increase in labor supply b. a decrease in labor demand c. a decrease in government spending d. a decrease in net exports e. an increase in autonomous consumption spending
The quantity demanded of money falls as the
A) interest rate falls. B) interest rate rises. C) supply of money rises. D) none of the above, since the quantity demanded of money is unrelated to the interest rate