An increasing cost industry is one where total costs rise as the industry grows.
Answer the following statement true (T) or false (F)
False
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Harry produces 2 balloon rides and 4 boat rides an hour. Harry could produce more balloon rides but to do so he must produce fewer boat rides. Harry is ________ his production possibilities frontier
A) producing inside B) producing on C) producing outside D) producing either inside or on
Refer to the above figure. The firm is currently producing at Q1. The firm should
A) reduce production. B) leave production as it is. C) increase production. D) shut down.
If aggregate demand increases and, as a result, real domestic output and employment increase but the price level remains unchanged, we can assume that
A. the money supply has declined. B. aggregate demand intersects aggregate supply in the Keynesian range of the aggregate supply curve. C. aggregate demand intersects aggregate supply in the intermediate range of the aggregate supply curve. D. aggregate demand intersects aggregate supply in the classical range of the aggregate supply curve.
The World Bank:
A. provides military assistance to those nations interested in improving national defense. B. makes and guarantees loans for basic development projects such as the construction of dams, roads, and schools. C. provides gold for DVCs that want to go on the gold standard. D. provides short-term loans to DVCs that are incurring balance of payments deficits.