Refer to the diagram. Discretionary fiscal policy designed to expand GDP is illustrated by:
A. the shift of curve T 1 to T 2 .
B. the shift of curve T 2 to T 1
C. a movement from a to c along curve T 2 .
D. a movement from d to b along curve T 1
A. the shift of curve T 1 to T 2 .
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The magnitude of the slope of the budget line is equal to the ________ or ________ of the good plotted on the ________ in terms of the other good
A) relative price; marginal cost; y-axis B) relative price; total cost; y-axis C) relative price; opportunity cost; x-axis D) price; opportunity cost; x-axis
In order to explain the relative sizes of families in urban versus rural environments, some economists viewed children as investment or durable consumptions goods, respectively
Indicate whether the statement is true or false
If a firm is producing at an output where the total revenue curve crosses the total cost curve,
a. revenue is maximized b. cost is maximized c. cost is minimized d. profit is maximized e. profit is zero
Dumping refers to selling a product abroad for less than the cost of production
a. True b. False