If marginal cost is below average cost, marginal cost must be rising.

Answer the following statement true (T) or false (F)


False

Economics

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What ratio defines the standard of living?

A) (Y/N) B) (Y/K) C) (Y/A) D) (Y/Q)

Economics

If the government cuts taxes, total spending will fall and AD will shift to the left, ceteris paribus

a. True b. False Indicate whether the statement is true or false

Economics

Suppose the government cuts taxes to keep the economy's cyclically adjusted budget in balance when the economy is expanding. The government is engaging in a(n):

A. contractionary fiscal policy. B. expansionary fiscal policy. C. low-interest-rate policy. D. neutral fiscal policy.

Economics

Total revenue increases if price ________ and demand is ________.

A. rises; inelastic B. falls; inelastic C. falls; unit elastic D. rises; elastic

Economics