A U-shaped long-run average cost curve implies that a firm faces only diseconomies of scale.
Answer the following statement true (T) or false (F)
False
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Refer to the scenario above. Tom will receive ________ if he raises his right hand and Sam raises his left hand
A) 3 candy bars B) 0 candy bars C) 2 candy bars D) 1 candy bar
Why do price levels increase when government adopts fiscal or monetary policy to correct the economy when it faces a recession and high unemployment?
A depreciation of the dollar causes
A. an increase in U.S. imports. B. an increase in the prices of U.S. exports. C. a decrease in U.S. exports. D. an increase in the prices of U.S. imports.
Which monetarist idea has been absorbed into mainstream macroeconomics?
A. The net export effect has a stronger effect on fiscal policy than monetary policy B. Cuts in tax rates significantly increase the productive capacity of the economy over the historical averages C. Excessive growth in the money supply over long periods leads to inflation D. The Federal funds rate is a more important monetary target than the money supply