As long as marginal cost is below average cost, average cost will be
a. falling
b. rising.
c. constant.
d. changing in a direction that cannot be determined without more information
a
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When deflation occurs
A) the nominal interest rate is greater than the real interest rate. B) the nominal interest rate is equal to the real interest rate and inflation is negative. C) the real interest rate is greater than the nominal interest rate. D) the nominal interest rate is equal to the real interest rate and inflation is positive.
Discuss some of the reasons why economists are concerned about the current recovery from the global financial crisis
What will be an ideal response?
The sacrifice ratio is the
a. sum of the inflation and unemployment rates. b. inflation rate divided by the unemployment rate. c. number of percentage points annual output falls for each percentage point reduction in inflation. d. number of percentage points unemployment rises for each percentage point reduction in inflation.
Usury laws impose a _________ on interest rates.
Fill in the blank(s) with the appropriate word(s).