A firm will shut down in the short run if
A) total fixed costs are too high.
B) total revenue from operating would not cover all costs.
C) total revenue from operating would not cover variable costs.
D) total revenue from operating would not cover fixed costs.
C
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The level of economic activity in a given year will cause the budget deficit to vary.
A. True B. False C. Uncertain
If money demand does not depend on the interest rate then
a. the LM curve if vertical and fiscal policy is ineffective. b. the LM curve is horizontal and fiscal policy is ineffective. c. the LM curve is horizontal and horizontal has no effect on output. d. the LM curve is vertical and monetary policy is ineffective.
Major U.S. exporters would be likely to oppose the sort of protectionist policies favored by domestic producers that compete with imports
a. True b. False Indicate whether the statement is true or false
Consumer surplus is difference between the ________ a consumer would pay for a given quantity of a good and what the consumer ________ pays
a. least; actually b. least; wants c. most; actually d. most; wants