Government regulation of a natural monopoly causes its average cost curve to shift downward.
Answer the following statement true (T) or false (F)
False
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As a result of the Fed's actions during the 2008 financial crisis and banks' lending policies,
A) the M2 money multiplier has fallen from about 9 to about 4. B) the M2 money multiplier more than doubled. C) the monetary base decreased by 50 percent. D) the ratio of currency to M2 deposits more than doubled. E) the reserve requirement ratio increased.
A decrease in the unemployment rate will shift the PPF outward from the origin
a. True b. False Indicate whether the statement is true or false
In the long run, all firms in a perfectly competitive industry
A) earn economic profits. B) break even. C) suffer economic losses. D) sell differentiated products to earn economic profits.
Total income
A. includes only wages received by workers. B. is the yearly amount earned by owners of the nation's resources. C. excludes profits. D. includes only wages and interest payments.