Which statement is true?
A. The marginal cost curve is used to determine if a firm is operating at peak efficiency.
B. A firm will always try to maximize its total revenue.
C. A firm's long-run supply curve is identical to its entire marginal cost curve.
D. A firm is operating most efficiently when it is at its break-even point.
D. A firm is operating most efficiently when it is at its break-even point.
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Total Government Debt is the sum of previous surplus and deficits.
A. True B. False C. Uncertain
Ceteris paribus, if the price of jet fuel fell, what effect would it have on the market for air travel?
a. an increase in equilibrium price and an increase in equilibrium quantity. b. an increase in equilibrium price and a decrease in equilibrium quantity. c. a decrease in equilibrium price and an increase in equilibrium quantity. d. a decrease in equilibrium price and a decrease in equilibrium quantity.
The poverty line is an absolute standard and is based on the cost of providing an adequate diet
a. True b. False Indicate whether the statement is true or false