In the short run, the point at which average cost is minimized, the line from the origin to the point on the
A) total cost curve is tangent to the curve.
B) total cost curve has the largest slope.
C) total variable cost curve has the largest slope.
D) total variable cost curve has the smallest slope.
A
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According to the interest-rate-based perspective on the monetary policy transmission mechanism
A) changes in the money supply have little influence on macroeconomic variables. B) key channels of monetary policy indirectly ultimately relate money supply changes to total planned spending through indirect effects on planned investment. C) inflation is always caused by excessive monetary growth and changes in the money supply offset aggregate demand only directly. D) monetary policy leads to increases in the price level but will have no effect on the rate of output.
A flat tax which does allow deductions for investment spending is a type of
A) investment tax. B) excise tax. C) luxury tax. D) consumption tax.
Lyndon Johnson’s “War on Poverty” started in the 1980s.
Answer the following statement true (T) or false (F)
Relating to the Economics in Practice on page 340: Europe has a carbon tax, and electricity producers are among the largest of the carbon producing firms. The carbon tax increases the costs of the electricity producers, which will shift the ________ curve in the electricity market to the ________.
A. supply; right B. demand; left C. supply; left D. demand; right