Unlike Keynesians, neo-Keynesian economists believe that the aggregate supply curve is (drawn from left to right)
a. horizontal
b. vertical
c. vertical, downward sloping, horizontal
d. horizontal, vertical
e. horizontal, upward sloping, vertical
E
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The marginal cost curve crosses
a. both the average total cost and average variable cost curves at their respective minimum points b. the average total cost curve at its minimum point, and the average variable cost curve at its maximum point c. the average total cost curve and the average variable cost curves at the same output level d. both the average total cost and average variable cost curves at their respective maximum points e. the average total cost curve at its maximum point, and the average variable cost curve at its minimum point
A demand curve
A) slopes down because of the inverse relationship between price and quantity demanded. B) slopes up because of the direct relationship between price and quantity demanded. C) can slope up or down depending on the tastes of the consumer. D) is vertical for necessities, upward sloping for luxury goods, and downward sloping for all other goods.
Kara is considering migrating to another country. Which of the following represents a cost she will face if she decides to move?
A. Financial expenditures to transport herself and her belongings to her new country. B. The income she currently earns in her home country. C. The application fee for a green card. D. All of these.
The following situation is an example of an export promotion strategy. Guatemala has a comparative advantage in the production of bananas and, as a result, the Guatemalan government grants incentives to banana growers to improve their performance in the international marketplace.
Answer the following statement true (T) or false (F)