The average fixed cost curve increases as output increases.
Answer the following statement true (T) or false (F)
False
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Ajax Corporation has just decided to let managers work from home one day a week. This decision will make working conditions better and will
A) cause the demand curve for labor for managers to increase. B) increase the elasticity of demand for labor for managers. C) lead to an increase in the supply curve of labor for managers. D) leave the supply curve of labor unchanged.
When more resources in an economy are devoted to the production of capital goods: a. the production possibilities curve shifts inward
b. the production possibilities curve in the current period shifts inward, but shifts outward in the future. c. the production possibilities curve shifts outward next in the future. d. the production possibilities curve is unchanged from period to period.
Economists mostly agree that the Great Depression was principally caused by factors that shifted short-run aggregate supply left
a. True b. False Indicate whether the statement is true or false
An inferior good has an income elasticity of demand that is
A) positive. B) negative. C) positive but less than 1. D) zero.