________: level of output at which average variable costs equal average revenue or the market price
Fill in the blank(s) with correct word
Shutdown output
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Along a short-run Phillips curve when the inflation rate rises,
A) the real wage rate falls and more labor is hired. B) the expected inflation rate falls. C) the expected inflation rate rises. D) the money wage rate falls because the labor market becomes less tight. E) potential GDP decreases.
A run on a bank may occur if
A. depositors withdraw some funds to invest in the stock market. B. required reserves are increased. C. interest rates are raised. D. depositors lose confidence in the bank and attempt to withdraw all their funds. E. All of these responses are correct.
Which one of the following is not prohibited by the original Clayton Act?
A. The purchase of the stocks of rival firms that lessens competition. B. The purchase of the assets of rival firms that lessens competition. C. An exclusive dealer or tying agreements that lessen competition. D. Price discrimination that lessens competition.
Which statement is true?
A. The lower incomes that women earn relative to those earned by men is explained entirely by employment discrimination. B. Although there are many theories of poverty, few have any validity. C. Much of black poverty is caused by black male joblessness. D. None of these statements are true.