As output rises, marginal product eventually diminishes and
a. marginal cost increases.
b. total cost falls.
c. fixed cost increases.
d. average product becomes negative.
A
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How would an increase in the U.S. federal budget deficit affect the exchange rate in the market for dollars?
A) The exchange rate will increase. B) The exchange rate will not be affected by a change in the federal budget deficit. C) The exchange rate will decrease. D) The impact of the increase in the federal budget deficit on the exchange rate cannot be predicted.
Each year around Valentine's Day, we would expect:
a. the demand for roses to increase. b. the price of roses to increase. c. the quantity of roses sold to increase. d. all of these.
Those who favor active policymaking argue that all of the following exist EXCEPT
A. perfectly flexible wages and prices. B. aggregate demand shocks can influence real Gross Domestic Product (GDP) and unemployment. C. inflation and unemployment are stable in the short run and predictable in the long run. D. pure competition is not typical.
In economics, a negotiator who hopes to get an unusually large amount of money for land by refusing to come to terms is called a(n)
A) entrepreneur. B) lobbyist. C) holdout. D) socialist.