Inflation distorts savings when real interest income, rather than nominal interest income, is taxed
a. True
b. False
Indicate whether the statement is true or false
False
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The slope of the total revenue curve equals
a. marginal revenue, which equals price for a perfectly competitive firm b. marginal revenue, which is greater than price for a perfectly competitive firm c. marginal revenue, which is less than price for a perfectly competitive firm d. average revenue, which is greater than price for a perfectly competitive firm e. average revenue, which is less than price for a perfectly competitive firm
On a TE-TP diagram consider a level of Real GDP at which the vertical distance to the TE line is less than the vertical distance to the 45-degree line. This level of Real GDP is __________ its equilibrium level, with __________
A) above; TE > TP B) above; TE < TP C) below; TE > TP D) below; TE < TP
In a perfectly competitive market buyers want to buy 20,000 units and sellers want to sell 20,000 units of a product when the price is $50 per unit. ABC Corporation, one seller in this market,
A. will sell a fixed number of units regardless of how the price changes. B. faces a downward-sloping demand curve for its product. C. will maximize profit by selling at a price less than $50. D. faces a perfectly elastic demand curve at a price of $50.
Insufficient capital formation can limit a poor nation's economic growth.
Answer the following statement true (T) or false (F)