A firm's long-run average cost curve is also called its
a. profit curve
b. explicit cost curve
c. opportunity cost curve
d. production curve
e. planning curve
E
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
The Ricardo-Barro effect argues that the crowding-out effect
A) is the result of the government budget deficit and higher interest rates. B) will occur, because the private saving supply will change to offset any change in the government budget deficit. C) is stronger when the government runs a budget surplus than when it runs a budget deficit. D) is the result of a government budget surplus and higher interest rates. E) will not occur, because the private saving supply will change to offset any change in the government budget deficit.
Explain why the rate of return from investing in stocks is higher than from investing in bonds
What will be an ideal response?
Because information is costly to acquire,
a. people will rationally choose not to become fully informed when making decisions. b. people will generally choose to become as fully informed as possible when making decisions. c. people will generally choose to acquire no information that would be relevant to their decisions. d. none of the above are true.