A monopoly's supply curve is the portion of the firm's marginal cost curve that lies above the average variable cost curve.
Answer the following statement true (T) or false (F)
False
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An economy accumulates capital when
A) its capital-labor ratio increases. B) it increases the number of workers. C) GDP per capita increases. D) labor productivity declines.
The pattern of generally __________ unemployment rates in Europe is typically attributed to the fact that European economies have a higher natural rate of unemployment.
a. lower b. higher c. stagnant d. rampant
If personal income exceeds national income in a particular year, we can conclude that:
A. transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and taxes on production and imports. B. the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits exceeded transfer payments. C. consumption of fixed capital and taxes on production and imports exceeded personal taxes. D. transfer payments exceeded the sum of Social Security contributions, corporate income taxes, and undistributed corporate profits.
The investment schedule shows the:
A. Inverse relationship between the expected rate of return and the quantity of investment demanded B. Positive relationship between the expected rate of return and the quantity of investment demanded C. Amounts business firms collectively intend to invest at each possible level of GDP D. Rate of interest that business firms must pay when they make investments in capital goods