By enjoying more consumer goods today, the economy spurs growth in future consumer goods.
Answer the following statement true (T) or false (F)
False
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Use the following cost table to answer the next question.OutputAverage Variable CostAverage Total CostMarginal Cost0---2$2.50$27.50$2.542.0014.501.562.0010.332.082.138.382.5102.307.303.0122.506.673.5143.006.576.0164.007.1311.0The table shows cost data for a perfectly competitive firm. If the market price for the firm's product is $6, what output level will the firm produce to maximize profits?
A. 16 B. 12 C. 0 D. 14
Stickiness of wages
A) is unrelated to stickiness of prices. B) reinforces stickiness of prices. C) lessens the stickiness of prices. D) may or may not reinforce stickiness of prices.
In the market for reserves, if the federal funds rate is above the interest rate paid on excess reserves, an open market sale ________ the ________ of reserves, causing the federal funds rate to increase, everything else held constant
A) increases; supply B) increases; demand C) decreases; supply D) decreases; demand
Suppose that competitive price-searcher firms are experiencing losses. In the transition from this initial situation to a long-run equilibrium,
a. the number of firms in the market decreases. b. each existing firm experiences a decrease in demand for its product. c. each firm experiences an upward shift to its marginal cost and average total cost curves. d. each existing firm's average total cost falls to bring economic profit back to zero.