Consider the following: The relative price of movies this year has
A) increased.
B) decreased.
C) stayed the same.
D) Not enough information has been given to calculate an answer.
B
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Cost minimization requires that a firm equate the ratio of marginal products of inputs to the ratio of input prices.
Answer the following statement true (T) or false (F)
Ben’s Peanut Shoppe suffers a short-run loss. Ben will not choose to shut down if his business’ total revenue exceeds his:
a) capital costs. b) implicit costs. c) variable cost. d) fixed cost.
The Phillips curve describes a trade-off between interest rates and unemployment
Indicate whether the statement is true or false
Policies focused on putting people to work by having them construct parks would be considered
A. demand-side policies. B. demand-side and supply-side policies. C. monetary policies. D. supply-side policies.