As we observe the cost curves graph, we see that the
A) MC curve intersects the ATC curve at its maximum.
B) MC curve cannot be U-shaped.
C) ATC curve always has a negative slope.
D) MC curve intersects the AVC curve and ATC curve at their minimums.
E) MC constantly falls as output increases.
D
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A predominant view among Federal Reserve officials is that
A) the Phillips curve is unimportant. B) the Phillips curve helps us forecast inflation. C) the Phillips curve helps us forecast the nominal interest rate. D) the Phillips curve does not exist in the data.
If a person attends a public college and is not hired because the boss went to a private college, this might be an example of
A) statistical discrimination. B) racial discrimination. C) screening. D) moral hazard.
If the marginal propensity to consume (MPC) is 0.90, the value of the spending multiplier is 90
a. True b. False Indicate whether the statement is true or false
Regulations that strictly limit pollution
a. provide firms no incentives to reduce pollution once a standard is met. b. provide incentives for firms to discover loopholes in the regulations. c. tend to be economically inefficient ways to reduce pollution. d. All of the above are true.