The vertical distance between the TC curve and TVC curve is equal to:
A. ATC
B. AVC
C. TFC
D. MC
C. TFC
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The primary focus of microeconomics is
A) to study how we managed to eliminate scarcity. B) our government's monetary policy. C) to examine the behavior and operation of the individual units or sectors that make up the economy. D) the levels of employment and inflation. E) to examine the operation of the entire (aggregate) economy.
A large government debt can reduce the amount of ________ in an economy and reduce future income and real wages for citizens
A) employment B) capital C) social benefit programs D) government spending
A rising inflation rate tends to injure the following types of people:
A) retirees and students with savings accounts. B) borrowers and homeowners. C) homeowners with mortgages and students with student loans. D) landowners and borrowers.
If the multiplier is 3, then the MPC is
a. 1/3. b. 3/4. c. 4/3. d. 2/3.