Answer the following questions true (T) or false (F)
1. Accounting costs exclude implicit costs.
2. If a firm is producing no output in the short run, then its total costs are zero.
3. In the short run, changes in output can only be brought about by a change in the quantity of variable inputs.
1. TRUE
2. FALSE
3. TRUE
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In the open-economy macroeconomic model, the supply of dollars in the market for foreign-currency exchange is upward sloping
a. True b. False Indicate whether the statement is true or false
Employer-provided private health insurance:
A. is unique to the United States and not typically found in other countries. B. is the most common form of health care provision in industrialized countries. C. substantially reduces the cost of health care provision relative to national health insurance schemes. D. provides a small percentage of health care spending in the United States.
Hourly wages of employees not under guaranteed contracts would be an example of __________ costs.
Fill in the blank(s) with the appropriate word(s).
A decrease in the inflation target by the central bank would:
A. cause the dynamic aggregate demand curve to shift to the right. B. cause the dynamic aggregate demand curve to shift to the left. C. have no impact on the positioning of the dynamic aggregate demand curve. D. be reflected by a movement down and along the existing dynamic aggregate demand curve.