What is the relationship between the marginal cost, minimum supply-price, and supply?
What will be an ideal response?
The marginal cost is the cost of producing an additional unit of a good. The marginal cost is the minimum price that producers must receive to induce them to offer one more unit of a good or service for sale. This minimum supply-price determines the supply of the good, so the supply curve is the same as the marginal cost curve.
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The chain-weighted output index method of calculating real GDP compares
A) compares the quantities of goods produced in consecutive years using prices in both years and averaging the percentage changes in the value of output. B) quantities produced in different years using prices from a year chosen as a reference period. C) quantities produced in different years with the prices that prevailed during the year in which the output was produced. D) prices at different points in time using a sample of goods that is representative of goods purchased by households.
Explain and show graphically the effect of an increase in the expected future exchange rate on the equilibrium exchange rate, everything else held constant
What will be an ideal response?
Supply-side economics concerns itself with the interaction between demand and supply, the price level, and real GDP
a. True b. False Indicate whether the statement is true or false
Use the following formula to answer the indicated question: Benefit amount = Maximum award - 0.6 (Wages in excess of ceiling) Raynoo is retired and earns $15,000 per year working part-time. She is entitled to a maximum Social Security retirement benefit of $14,000. Social Security regulations allow her to earn $9,000 and still get maximum benefits. Raynoo's total income, including Social Security benefits, is
A. $29,000. B. $14,000. C. $25,400. D. $15,000.