In deciding whether to operate in the short run, the firm must be concerned with the relationship between price of the output and
A) total cost.
B) average variable cost.
C) total fixed cost.
D) the number of buyers.
B
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An increase in total factor productivity shifts the PPF
A) upward, but does not change its slope. B) upward, and also changes its slope. C) downward, but does not change its slope. D) downward, and also changes its slope.
Purchasing power parity or PPP says the ratios composed of:
a. interest rates explain the direction of exchange rates. b. growth rates explain the direction of exchange rates. c. inflation rates explain the direction of exchange rates. d. services explain the direction exchange rates. e. public opinion polls explain the direction of exchange rates.
Which of the following adjusts to bring aggregate demand and aggregate supply into balance?
a) the price level but not the quantity of output b) the quantity of output but not the price level c) both the price level and the quantity of output d) variables other than the price level and the quantity of output
Refer to the figure below. An increase in supply is represented by a shift from: 
A. curve C to curve B. B. curve A to curve B. C. curve B to curve A. D. curve C to curve D.