Which of the following best describes total fixed cost?
a. The change in total cost when one additional unit of output is produced.
b. Total cost divided by the quantity of output produced
c. Total variable cost divided by the quantity of output produced.
d. Total fixed cost divided by the quantity of output produced.
e. Costs that do not vary as output varies.
e
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The slope of the linear consumption function represents autonomous consumption expenditures
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Other things equal, when the Fed raises the reserve requirement, the banking system's excess reserves will fall, the deposit expansion multiplier will decline, and the money supply will decrease
a. True b. False Indicate whether the statement is true or false
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
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Indicate whether the statement is true or false