A perfectly competitive firm's short-run supply curve is the part of its marginal cost curve that is:
a. upward sloping.
b. above the minimum level of average variable cost.
c. above average fixed cost.
d. both a and b.
b
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What will be an ideal response?
Benefit levels for TANF are the same, regardless of where you live
Indicate whether the statement is true or false
Leakages in the circular flow model are
A) caused by people not acting rational. B) possible when unemployment exists. C) reflected in the vertical long-run aggregate supply curve. D) caused by people saving instead of spending.
If people decide to hold more currency relative to deposits, the money supply
a. falls. The Fed could lessen the impact of this by buying Treasury bonds. b. falls. The Fed could lessen the impact of this by selling Treasury bonds. c. rises. The Fed could lessen the impact of this by buying Treasury bonds. d. rises. The Fed could lessen the impact of the by selling Treasury bonds.