Whenever two individuals trade with each other, one will benefit and the other will lose.
Answer the following statement true (T) or false (F)
False
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Given implicit or explicit resource price agreements, if the actual price level is below the expected price level, the: a. economy will move rightward along the short-run aggregate supply curve. b. economy will move leftward along the short-run aggregate supply curve. c. short-run aggregate supply curve will shift to the left
d. long-run aggregate supply curve will become steeper. e. short-run aggregate supply curve will become flatter.
Suppose that the government increases expenditures by $150 billion while increasing taxes by $150 billion. Suppose that the MPC is .80 and that there are no crowding out or accelerator effects. What is the combined effects of these changes? Why is the combined change not equal to zero?
The following graph shows average fixed costs, average variable costs, average total costs, and marginal costs of production.
Average variable cost is minimized when output equals:
A. 21 units. B. 25 units. C. 12 units. D. 6 units.
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the firm's cost of capital is $18 per unit, then its cost of labor is ________ per unit.
A. $1.80 B. $9 C. $36 D. $900