Marginal fixed costs decrease as output increases.
Answer the following statement true (T) or false (F)
False
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Due to a "baby bust" in the 1960s and 1970s, fewer people entered the labor market in the 1980s and 1990s
This demographic event ________ the natural unemployment rate thereby shifting the short-run Phillips curve ________ and shifting the long-run Phillips curve ________. A) increased; leftward; rightward B) decreased; rightward; rightward C) decreased; leftward; leftward D) increased; rightward; rightward E) increased; rightward; leftward
If a large hardware chain offers a ten percent discount to those currently serving in the military and veterans, this is an example of ________ and is ________.
A) price discrimination; only illegal if the practice substantially lessens competition or tends to create a monopoly B) conditional sales; always illegal per se C) price discrimination; always illegal per se D) conditional sales; only illegal if the practice substantially lessens competition or tends to create a monopoly
The actions taken by arbitrageurs in the foreign exchange markets
a. destabilize foreign exchange markets b. are highly risky c. have no effect on exchange rates d. help assure that exchange rates are equalized across all markets e. are the same as those undertaken by speculators
Accounting profit is usually larger than economic profit
a. True b. False Indicate whether the statement is true or false