The MC curve intersects the AVC curve at the ____________ of the AVC curve.
Fill in the blank(s) with the appropriate word(s).
minimum point
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Which of the following WOULD NOT be considered an automatic stabilizer for the economy?
A. Welfare payments B. Unemployment compensation C. The progressive income tax D. An income tax surcharge
Cost-push inflation arises from:
a. An increase in aggregate supply b. A decrease in aggregate supply c. A decrease in aggregate demand d. An increase in aggregate demand
In considering the holding period return, the longer the term of the bond the:
A. less important is the coupon rate and the more important is the current yield. B. less important is the capital gain. C. more important is the capital gain. D. less important is the capital gain and the more important in the current yield.
Which of the following does NOT affect the long-run aggregate supply curve?
A. technology B. price level C. endowments of resources D. production possibilities curve