The overall mortality rate in the United States has remained fairly constant for the past 30 years
Indicate whether the statement is true or false
FALSE
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If the price of Italian shoes imported into the United States increases, then
a. both the GDP deflator and the consumer price index will increase. b. neither the GDP deflator nor the consumer price index will increase. c. the GDP deflator will increase, but the consumer price index will not increase. d. the consumer price index will increase, but the GDP deflator will not increase.
A surplus of wheat:
A. is impossible if people are hungry. B. is impossible if the price of wheat is below equilibrium. C. will result when the quantity demanded exceeds the quantity supplied at the current price. D. is unlikely to cause any change in the price of wheat.
Adverse aggregate supply shocks would result in:
A. A lower rate of inflation and a higher rate of unemployment B. A higher rate of inflation and a lower rate of unemployment C. A lower rate of inflation and a lower rate of unemployment D. A higher rate of inflation and a higher rate of unemployment
In the figure above, the wage rate is $600 and total fixed cost is $15,000. How much output does the firm produce when average variable cost is at its minimum?
A. 375 B. 1,600 C. 270 D. 4,800 E. 30