Refer to the data. The marginal cost curve would intersect the average variable cost curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.
B. 4 units of output.
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Under the Bretton Woods system, if West Germany needed to change its parity rate with the U.S. dollar so that a person might offer fewer Deutsch marks to buy on e dollar, then they would be
A) revaluing their currency. B) devaluing their currency. C) appreciating their currency. D) depreciating their currency.
Under a favorable business environment and if the economic outlook of the future looked promising ________
A) firms might spend more for any given inflation rate B) planned investment might increase leading to a higher equilibrium level of output C) the aggregate demand curve would likely shift to the right D) all of the above E) none of the above
Which of the following correctly describes the difference between aggregate output and aggregate demand?
a. Aggregate output is the relationship between the average price level and the quantity of all goods and services demanded, while aggregate demand is the total quantity of goods and services produced in the economy during a given time period, with other things constant. b. Aggregate output is the total quantity of goods and services produced in the economy during a given time period, while aggregate demand is the relationship between the average price level and aggregate output demanded, with other things constant. c. Aggregate output is that portion of the total quantity of goods and services sold through export sales, while aggregate demand is the remaining portion of the total quantity of goods and services sold domestically. d. Aggregate output is the total quantity of goods and services imported in to the economy during a given time period, while aggregate demand is the relationship between the general price level and aggregate output demanded, with other things constant.
Systemic risks are most likely to exist with regard to
A. small governments. B. large governments. C. small financial institutions. D. large financial institutions.