When average total cost is rising, the marginal cost curve must be above the average total cost curve.
Answer the following statement true (T) or false (F)
True
Average total cost can increase only if marginal cost exceeds average total cost; otherwise average total cost will decline.
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According to the natural rate hypothesis, the unemployment rate should equal 0 percent in the long run
a. True b. False Indicate whether the statement is true or false
A financial instrument would include:
A. only a written obligation and a specified date. B. only a written obligation and a transfer of value. C. a written obligation, a transfer of value, a specific date for payment, uncertain conditions. D. a written obligation, a transfer of value, a future date, and certain conditions.
If real salaries increase but nominal salaries do not, this means that:
A. the purchasing power of money has decreased. B. prices have not changed. C. prices have risen. D. prices have fallen.
Which of the following statements is correct?
A. Federal deficits were larger in the early 2000s than in the late 2000s. B. Deep tax cuts always expand tax revenues and reduce the public debt. C. The public debt has usually declined during wartime. D. There is a tendency for the public debt to grow during recessions.