A time-series graph displays the price of copper. The slope of the line is negative for periods when the
A) price of copper is falling.
B) price of copper is rising.
C) quantity of copper is falling.
D) price of copper is low and not changing.
A
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Diseconomies of scale is
A) a short-run phenomenon. B) the result of decreasing marginal returns. C) a long-run phenomenon. D) the result of increasing marginal returns. E) possible only when the firm's plant size is fixed.
Assume Bryce's budget constraint is represented by line B in the graph shown. Which of the following would cause Bryce's budget constraint to shift to A?
A. The price of books increased.
B. The price of books decreased.
C. The price of movie tickets increased.
D. The price of movie tickets decreased.
If the U.S. government decided to pay off the national debt by creating money, what would be the most likely effect?
A. A substantial reduction in real GDP B. A deflationary collapse C. Rapid inflation D. An increase in the trade surplus
When actual real GDP is below natural real GDP, we say that
A) the output gap is positive. B) the output gap is negative. C) the output gap has been eliminated. D) the output gap cannot be calculated.