Total physical product is maximized if marginal physical product is zero
a. True
b. False
Indicate whether the statement is true or false
True
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If the money supply in the economy were at MS2, and the Federal Reserve Bank used open market operations to move money supply to MS3, the overall direct result in the economy would be:
A. Aggregate demand shifted in, causing GDP to fall.
B. Aggregate supply shifted in, causing GDP to fall.
C. Aggregate demand shifted out, causing GDP to rise
D. LRAS move to the FE level of output.
Variable costs
A) do not vary with price. B) do not vary with output. C) vary with price. D) vary with output.
The order of payment of corporate earnings is bondholders, preferred stockholders, convertible stockholders, and finally common stockholders
Indicate whether the statement is true or false
Consumer surplus is the net economic benefit to consumers who are able to buy a good at a price lower than the highest price they are willing to pay.
Answer the following statement true (T) or false (F)