If an increase in crime causes households to spend money on police and security systems, GDP will rise
Indicate whether the statement is true or false
TRUE
You might also like to view...
Assuming a long-run aggregate supply curve, a decrease in taxes results in ________ in output and ________ in price level
A) no change; an increase B) an increase; no change C) a decrease; a decrease D) no change; a decrease
A firm is employing capital and labor such that the marginal product of capital is 80 and the marginal product of labor is 20
If the price of a unit of capital is $30 and the price of a unit of labor is $15, is the firm minimizing its costs? If not, can you recommend a change for the firm to make in its relative amounts of labor and capital used? Explain.
The nationality of a company and a product is easily determined
a. True b. False Indicate whether the statement is true or false
For the monopolistic competitor, which of the following is INCORRECT?
A. The marginal revenue curve is downward sloping and lies below the demand curve. B. If the firm in a monopolistically competitive industry were making economic losses, new firms will enter the industry. C. Because the firm is not a perfect competitor, its demand curve slopes downward. D. The profit-maximizing rate of output arises at the point at which the marginal cost curve intersects the marginal revenue curve.