The extra benefit resulting from a small increase in an activity is called the
A) opportunity cost. B) marginal benefit.
C) diminishing returns of the activity. D) marginal cost.
B
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If the aggregate supply curve is upward-sloping, then the short-run effect of an increase in the money supply is an increase in both real output and the price level
Indicate whether the statement is true or false
If production displays diseconomies of scale, the long-run average cost curve is
A) above the short-run average total cost curve. B) above the long-run marginal cost curve. C) upward sloping. D) downward sloping.
when a worker takes on additional employment but is moved into a higher tax bracket and pays a higher tax rate
What will be an ideal response?
According to the New Classical macroeconomic school,
A) active policy intervention is ineffective. B) active policy intervention is undesirable and perverse. C) active policy intervention's benefits exceed its costs. D) active policy intervention's benefits are less than its costs.