If marginal cost is increasing, then average variable cost must be increasing simultaneously.
Answer the following statement true (T) or false (F)
False
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The advantage of automatic stabilizers is that they
A) reduce the fluctuations in the business cycle. B) help to balance the budget. C) reduce the size of the net public debt. D) help reduce the inflation rate.
Deposits held by commercial banks are insured by the:
A) Federal Trade Commission. B) Federal Deposit Insurance Corporation. C) Federal Communications Commission. D) Resolution Trust Corporation.
Suppose we are working with the simplest possible Keynesian-cross multiplier, but with the permanent-income hypothesis figured in. If k = 0.88,
and j = 0.25, the multiplier of a $1 change in government spending goes from ________ in the short run to ________ in the long run. A) 8.33, 1.28 B) 1.28, 8.33 C) 8.33, 4.00 D) 1.13, 4.00 E) 4.54, 8.33
Which of the following describes a demand curve?
a. It is a horizontal line. b. It slopes downward from left to right. c. It slopes downward from right to left. d. It is bow-shaped.