Which statement about the total variable cost curve is true?
a. It begins at the origin and increases before decreasing again.
b. The total variable cost curve is the same at all levels of output.
c. The total variable cost curve is increasing but at a decreasing rate.
d. It begins at the origin and is always increasing.
e. There is no such thing as a total variable cost curve.
D
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According to real business cycle theory,
A. monetary factors affecting aggregate demand cause macroeconomic instability. B. when real wages fall during recessions, "real" unemployment rates rise. C. recessions result from declines in long-run aggregate supply, rather than decreases in aggregate demand. D. the net long-run costs of business fluctuations are severe.
Anyone can buy marketable pollution rights for sulfur dioxide, even environmentalists
a. True b. False
A new tax introduced by the government will: a. decrease disposable income
b. increase disposable income. c. lead to a reduction in government spending. d. lead to an increase in government spending. e. have no effect on disposable income.
Answer the following statement true (T) or false (F)
1) Price-fixing is illegal under Section 1 of the Sherman Act. 2) Monopolization is illegal under Section 1 of the Sherman Act. 3) The U.S. Justice Department, the Federal Trade Commission, state attorneys general, and injured private parties can independently file charges against firms under the Sherman Act. 4) Anticompetitive mergers are illegal under provisions of the Clayton Act (as amended).