According to the marginal approach to profit maximization, firms should increase output as long as total revenue is rising
a. True
b. False
B
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Which of the following statements best describes consumer confidence as measured by the consumer confidence index, from just prior to the Great Recession until late 2008.
a. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. b. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 50 in late 2008, which was the lowest it had been since 1980. c. According to the consumer confidence index, consumer confidence averaged around 90 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980. d. According to the consumer confidence index, consumer confidence averaged around 80 prior to the Great Recession, and then it fell to below 60 in late 2008, which was the lowest it had been since 1980.
All two-dimensional graphs must have an origin, a horizontal axis, and a vertical axis.
Answer the following statement true (T) or false (F)
When a bank makes loans with excess reserves, it
a. creates money. b. destroys money. c. alters the composition of M1. d. leaves the money supply unchanged.
If a firm in a monopolistically competitive market has a demand curve that is shifting to the right, it will stop shifting when:
A. firms stop leaving the market. B. firms stop entering the market. C. the firm raises its price. D. the firm lowers its price.