When marginal cost is falling
A. marginal product is at a maximum.
B. marginal product must be falling.
C. marginal product is at a minimum.
D. marginal product must be rising.
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The United States has the least income inequality of all the nations in the world.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. If the economy is at Point A, a decrease in money supply will move the economy to Point ________ in the short run.
A. E B. B C. C D. D
When a country's government budget deficit decreases,
a. the real exchange rate of its currency and its net exports increase. b. the real exchange rate of its currency and its net exports decrease. c. the real exchange rate of its currency increases and its net exports decrease. d. the real exchange rate of its currency decreases and its net exports increase.
If the United States were to produce all of its own steel rather than importing large quantities of steel from other nations, the effect would be
A. to reduce steel prices because steel would not have to be transported as far. B. to slow the economy by drawing resources steel away from other production. C. to make steel consumers, such as auto manufacturers, better off. D. to improve the well-being of foreign steel producers.