When the central bank is focusing on internal balance, their main target in the economy is
A) a desired level of real GDP.
B) a balance of payments equilibrium.
C) a certain level of real money balances.
D) reducing government debt.
A
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If it costs Sinclair $300 to produce 3 suede jackets and $420 to produce 4 suede jackets, then the difference of $120 is the marginal cost of producing the 4th suede jacket
Indicate whether the statement is true or false
An increase in unemployment insurance payments would, in effect, ________ the amount of time spent searching for a job, which would increase ________ unemployment
A) decrease; frictional B) increase; frictional C) increase; cyclical D) decrease; cyclical
All else constant, as the price elasticity of demand for a good at the equilibrium price decreases, the amount of consumer surplus derived from purchasing the equilibrium quantity of the good increases
Indicate whether the statement is true or false
If a firm in a monopolistically competitive market has a demand curve shifting to the right, it is likely that:
A. positive economic profits are being earned. B. firms are entering the market. C. the selling price is less than the average total cost of the firm. D. All of these statements are true.