The average total cost curve of a firm is U shaped but the average variable cost is not.
Answer the following statement true (T) or false (F)
False
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Economic growth can be represented by
A) a movement down the production possibilities frontier (PPF). B) a movement up the production possibilities frontier (PPF). C) an inward shift of the production possibilities frontier (PPF). D) an outward shift of the production possibilities frontier (PPF).
Any policy that seeks to influence the level of aggregate demand is called
A) productivity policy. B) stabilization policy. C) aggregate policy. D) employment policy.
Employment discrimination is a source of
a. economic inefficiency. b. increased economic growth. c. innovation. d. shifting production possibilities. e. All of the above are correct.
A resource is defined to be:
A. something of value. B. something that people respond to. C. a good or service. D. anything that can be used to make something of value.