In the long run which of the following is true?
A) Total cost = fixed cost + variable cost.
B) The size of a firm's physical plant can be changed but the firm cannot adopt new technology.
C) There are no fixed costs.
D) The firm can vary its explicit costs but not its implicit costs.
Answer: C
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The U.S. economy has become a less closed economy over the past 50 years.
Answer the following statement true (T) or false (F)
One example of a Phillips Curve would be a
A) positive relationship between deviations from trend in real and nominal interest rates. B) negative relationship between deviations from trend in real and nominal interest rates. C) positive relationship between deviations from trend in the level of prices and the level of aggregate economic activity. D) negative relationship between deviations from trend in the level of prices and the level of aggregate economic activity.
Which of the following is not included in Nation A's financial account?
a. Foreign deposits of funds in savings accounts in Nation A. b. Purchases and sales of legal and accounting creations. c. Foreign purchases of Nation A's Treasury bills. d. All the above.
If there is a surplus of loanable funds, the quantity demanded is
a. greater than the quantity supplied and the interest rate will rise. b. greater than the quantity supplied and the interest rate will fall. c. less than the quantity supplied and the interest rate will rise. d. less than the quantity supplied and the interest rate will fall.