The demand for borrowed funds is a derived demand
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Figure 12-11. Suppose the prevailing price is $20 and the firm is currently producing 1,350 units. In the long-run equilibrium
A) there will be fewer firms in the industry and total industry output decreases. B) there will be fewer firms in the industry but total industry output increases. C) there will be more firms in the industry and total industry output remains constant. D) there will be more firms in the industry and total industry output increases.
A municipal bond is
a. issued by the federal government. b. issued by state and local governments. c. issued by corporations. d. issued by households.
Over all levels of output, if a firm's long-run average cost curve declines as output increases, then
A. small firms and large firms will have identical average costs. B. there should be a large number of firms in the industry. C. there should be only one firm in the industry. D. small firms would have lower average costs of production than large firms.
The growth rate of real GDP equals
A) [(real GDP in previous year - real GDP in current year) ÷ real GDP in previous year] × 100. B) [(real GDP in current year - real GDP in previous year) ÷ real GDP in previous year] × 100. C) [(employment in the current year - employment in previous year)/employment in previous year] × 100. D) (real GDP in current year - real GDP in previous year) × 100. E) [(real GDP in current year - real GDP in previous year) ÷ real GDP in current year] × 100.