The optimal method of production is the one that
A. maximizes output regardless of cost.
B. minimizes the normal rate of return.
C. maximizes inputs.
D. minimizes cost.
Answer: D
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How is the effect of expansionary monetary policy depicted in an aggregate supply-aggregate demand graph?
A) The aggregate demand curve shifts rightward. B) The aggregate supply curve shifts leftward. C) The equilibrium level of income increases, but neither curve shifts. D) The aggregate supply curve shifts rightward.
Explain how GDP is measured according to the expenditure and income approaches
What will be an ideal response?
The study of how people make decisions in situations in which attaining their goals depends on their interactions with others is called
A) oligopoly. B) competitive analysis. C) strategic analysis. D) game theory.
A tax imposed on the sellers of a good
a. raises both the price buyers pay and the net price received by sellers. b. raises the price buyers pay and lowers the net price received by sellers. c. lowers the price buyers pay and raises the net price received by sellers. d. lowers both the price buyers pay and the price received by sellers.