Refer to the information provided in Figure 23.10 below to answer the question(s) that follow.
Figure 23.10Refer to Figure 23.10. At an aggregate output level of $500 million, there is a
A. $100 million unplanned decrease in inventories.
B. $100 million unplanned increase in inventories.
C. $175 million unplanned decrease in inventories.
D. $0 change in unplanned inventories.
Answer: A
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A. production takes place where ATC is minimized. B. marginal revenue equals marginal cost and price equals average total cost. C. normal profit is zero and price equals marginal cost. D. economic profit is zero and price equals marginal cost
A. be unaffected. B. shift to the left. C. become more elastic. D. shift to the right.
To compare the net public debt of various countries, the debt has to be compared to
A) the country's real GDP. B) the country's current budget deficit or surplus. C) the country's trade deficit. D) the country's national defense expenditure.
Structural unemployment includes people who become unemployed from
A) changes in the business cycle. B) technological changes. C) going back to school. D) changes in the seasons. E) normal changes in the labor force.
Refer to Figure 8.1. If Charla and Mirna agree to pay each other $350 to install the pollution-control device on their heating systems, the Nash equilibrium would be found when Charla plays ________ and when Mirna plays ________
A) Install; Install B) Install; Don't Install C) Don't Install; Install D) Don't Install; Don't Install