The short-run average total cost curve is generally assumed to be:
A. downward-sloping.
B. U-shaped.
C. upward-sloping.
D. horizontal.
Answer: B
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In the figure above, the shift in the demand curve for U.S. dollars from D0 to D2 could occur when
A) the U.S. interest rate falls. B) the U.S. interest rate rises. C) people expect that the dollar will appreciate. D) foreign interest rates fall.
In a public corporation, asymmetric information often results in a principal-agent problem between top management and ownership. What information would help to prevent this principal-agent problem?
What will be an ideal response?
Shifts in the IS curve ________ the AD curve, and changes to the reaction function ________ the AD curve
A) cause a movement along; shift B) shift; cause a movement along C) temporarily shift; permanently shift D) permanently shift; temporarily shift
Average fixed costs:
A. always trend downward as output increases. B. always trend upward as output increases. C. are a constant, regardless of quantity of output. D. are a vertical line.