When AVC is falling, ATC
A. must be rising.
B. must be falling.
C. may be falling or rising.
D. will remain constant.
B. must be falling.
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The above table gives real GDP and the aggregate expenditure schedule. Equilibrium real GDP is
A) $11 billion. B) $12 billion. C) $10 billion. D) $14 billion. E) $13 billion.
How does the production possibilities frontier illustrate production efficiency?
What will be an ideal response?
Suppose that Colleen's nominal wage rate was $20 per hour in 1998, the base year for the CPI. If the CPI in 2003 was 120.0 and her nominal wage had risen to $22 per hour, what was her real wage in 2003?
a. $16.67 b. $18.33 c. $22.00 d. $26.40 e. her real wage for 2003 cannot be determined with the information given
National Public Radio would be considered a club good
a. True b. False Indicate whether the statement is true or false