To find the output at which the firm maximizes its profits you MUST know the firm's
A. average total costs.
B. average variable costs.
C. average fixed costs.
D. marginal costs.
D. marginal costs.
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If a large number of workers are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is
A) overstated. B) understated. C) neither overstated or understated. D) unbiased.
The beginning of the formal budget process is signified by:
a. in the form of the Economic Report of the President b. in a report followed shortly by the Economic Report of the President. c. at the beginning of the fiscal year. d. in a report that should be voted up or down within 60 days. e. in a report that requires a two-thirds vote for ratification.
From 1980-1987, U.S. net capital outflow as a percent of GDP became a
a. larger positive number. b. smaller positive number. c. larger negative number. d. smaller negative number.
The classical economists believed that if saving exceeded investment, the _____________.
Fill in the blank(s) with the appropriate word(s).