The government can close an inflationary gap by reducing government spending
Indicate whether the statement is true or false
T
Economics
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Use the following graph showing the average total cost curve for a perfectly competitive firm to answer the next question.
At the long-run equilibrium level of output, this firm's total revenue
A. is $400. B. is $10. C. is $40. D. cannot be determined from the information provided.
Economics
When we assume that consumers want to pay the lowest price possible, we assume that consumers are:
A. cheap. B. deceitful. C. rational. D. informed.
Economics
Most government franchises are granted to natural monopolies
a. True. b. False.
Economics
In a market economy, economic activity is guided by
a. the government. b. public-interest groups. c. central planners. d. self-interest and prices.
Economics