When a firm's demand curve is downward-sloping, its marginal revenue at any positive sales quantity is ______ its price.
A. greater than
B. less than
C. equal to
D. less than or equal to
B. less than
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A hike in the federal funds rate results in ________ in the real interest rate which leads to a ________ in investment
A) an increase; a decrease B) a decrease; a decrease C) a decrease; an increase D) a decrease; no change E) an increase; an increase
If the United States donates footballs to Japan, how is the transaction recorded on the U.S. balance of payments accounts?
A) Decline in merchandise trade; increase in financial account B) Decline in financial account; increase in merchandise trade C) Decline in net unilateral transfers; increase in merchandise trade D) Decline in merchandise trade; increase in net unilateral transfers
M1 includes currency held in bank vaults
a. True b. False Indicate whether the statement is true or false
In a sense, the long-run average cost curve is holding
A) short-run average variable cost curves. B) short-run marginal cost curves. C) short-run average total cost curves. D) short-run total cost curves.