If marginal cost equals average total cost, average total cost will
A) be maximized.
B) decrease.
C) increase.
D) be minimized.
D) be minimized.
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Which of the following statements about full employment is true?
A. Liberal economists insist that an unemployment rate of 4 percent constitutes full employment. B. Conservative economists feel that an unemployment rate of 6 percent is a realistic portrayal of full employment. C. Economists cannot agree on what constitutes full employment, thus 5% represents a reasonable compromise. D. All of these choices are true.
A sales tax on sellers of a good shifts the demand curve leftward because the tax raises the price that consumers must pay
Indicate whether the statement is true or false
If the general education level within a country rises significantly over time, it is likely that:
a. the country will move to a different point along its current production possibilities curve. b. the country's production possibilities curve will not change in any way. c. the country's production possibilities curve will shift in. d. the country's production possibilities curve will shift out. e. the country's production possibilities curve will become convex to the origin.
The large decrease in gasoline prices during 2014-2015 was attributable to
A. directional drilling. B. hyperaccurate seismologic mapping. C. hydraulic fracturing. D. all of these.