For a monopoly, marginal cost equals average total cost at every level of output.
Answer the following statement true (T) or false (F)
False
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What does a productivity curve reflect? What leads to movements along a productivity curve and what leads to shifts in a productivity curve?
What will be an ideal response?
A chief reason firms give employees bonuses based on the firm's profit is to cope with
A) the tax laws. B) the law of diminishing returns. C) the principal-agent problem. D) unions.
Which of the following statements is true?
A. GDP is greater than national income, which is greater than NDP. B. Government spending is the largest sector of GDP. C. A Social Security check sent to a retiree is counted as part of GDP. D. The purchase of a new factory is counted in the investment sector of GDP.
As a result of an expansionary monetary policy ________
a. both aggregate expenditure and aggregate demand increase b. both aggregate expenditure and aggregate demand decrease. c. aggregate expenditure increases and aggregate demand decreases. d. aggregate expenditure decreases and aggregate demand increases. e. aggregate expenditure remains unchanged; aggregate demand increases.