The above table shows a firm's
A) long-run costs.
B) short-run costs.
C) short-run and long-run costs.
D) More information is needed to determine if the costs are long-run costs or short-run costs.
B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Marginal utility tends to fall as a person increases his or her consumption
a. True b. False Indicate whether the statement is true or false
If planned aggregate spending in an economy can be written as PAE = 15,000 + 0.6Y ? 20,000r, and potential output equals 35,000, what real interest rate must the Federal Reserve set to bring the economy to full employment?
A. 4 percent B. 2 percent C. 3 percent D. 5 percent
The Cold War was of overriding importance during the period after World War II for all of the following reasons except
(a) It was an automatic "pump primer" which helped keep spending levels high in the overall economy. (b) It helped fuel growth of key sectors of the economy, such as aircraft manufacturing and computers. (c) It fostered economic growth and urbanization in many parts of the nation where military bases and defense factories were built. (d) It put people to work who would otherwise have been unemployed because without high levels of defense spending, the economy almost certainly would have lapsed back into a depression like the one of the 1930s.