In deciding whether to operate in the short run, the firm must consider the relationship between price and
A) total cost.
B) average variable cost.
C) total fixed cost.
D) the number of buyers.
B
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The majority of American workers are employed in the manufacturing sector.
Answer the following statement true (T) or false (F)
Problems with the federal government budget process include: a. budgeting that allows the President too much discretion in spending decisions
b. budgeting that increases the flexibility of discretionary fiscal policy. c. a budget outline that needs to be approved with at least a two-thirds majority vote. d. most of the expenditures being for entitlement programs. e. a brief budgeting that does not allow Congress to study whether the budget is an appropriate tool for fiscal policy.
According to the Keynesian model, in what ways will expansionary fiscal policy stimulate aggregate demand?
Economists who study economic mobility have found that the income of a grandfather and his grandson's income are
a. not closely related. b. negatively related. c. directly related. d. equal.