Economies and diseconomies of scale are the reasons why short-run average total cost decreases and then increases
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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If nominal GDP is $230 for a period and real GDP is $200 for the same period, what is the GDP deflator for this period?
What will be an ideal response?
Economics
Figure 8-1
?
Given the scatter diagram in Figure 8-1, what is the MPC (your best estimate)?
A. 1/2 B. 1/3 C. 2/3 D. 1
Economics
The interest rate effect states that _____________.
Fill in the blank(s) with the appropriate word(s).
Economics
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Economics