Because of the greater flexibility that firms have in the long run, all short-run cost curves lie on or above the long-run curve
a. True
b. False
Indicate whether the statement is true or false
True
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Macroeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle
Indicate whether the statement is true or false
Refer to Figure 18.4. With free trade, what is the equilibrium quantity of gloves in Duckland?
A) 100 B) 80 C) 60 D) 40
The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid. B. low levels of domestic savings. C. inappropriate education. D. overpopulation.
For the United States in 2012, exports and imports were roughly what percent of its GDP?
A. 56 percent and 44 percent, respectively B. 41 percent and 37 percent, respectively C. 21 percent and 26 percent, respectively D. 14 percent and 17 percent, respectively