Ceteris paribus means
A) one variable too many.
B) the correct relationship specified.
C) assuming economic motives.
D) all other things held constant or nothing else changes.
D
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The minimum point of the average total cost curve occurs at an output level that corresponds to
a. the maximum possible total cost b. an average total cost equal to the marginal cost of the next unit c. an average variable cost that is greater than the marginal cost of the next unit d. a marginal cost that is decreasing e. a constant average fixed cost
Economists are often required to make unrealistic assumptions concerning the problems they are investigating
a. True b. False Indicate whether the statement is true or false
The main revenue sources for state and local governments are corporate income taxes
a. True b. False Indicate whether the statement is true or false
According to liquidity preference theory, an increase in the price level shifts the
a. money demand curve rightward, so the interest rate increases. b. money demand curve rightward, so the interest rate decreases. c. money demand curve leftward, so the interest rate decreases. d. money demand curve leftward, so the interest rate increases.