When an economy is not using all of its resources, it is producing at a point below its production possibilities frontier
Indicate whether the statement is true or false
True
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A firm that has relatively high fixed-cost expenditures is likely to be a natural monopoly
Indicate whether the statement is true or false
For a perfectly competitive firm, the region of the marginal cost curve that is above its average variable cost curve is identical to the firm's _____
a. demand curve b. supply curve c. average total cost curve d. average variable cost curve
Which of the following events shifts the aggregate-demand curve leftward?
a. A decrease in government expenditures, but not a change in the price level. b. An increase in government expenditures or a decrease in the price level c. A decrease in government expenditures or an increase in the price level. d. An increase in the price level, but not a decrease in government expenditures.
A movement from one point to another point on the same consumption function could be caused due to
A. changes in wealth. B. an increase in the general price level. C. decrease in the real interest rates. D. changes in disposable income.