Stabilization policy is policy that seeks to
A) get zero inflation.
B) eliminate fluctuations.
C) eradicate unemployment.
D) maximize output.
B
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Using the figure above, which of the following statements are correct?
i. When 3 haircuts are produced, the firm's ATC is $10. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $14. iii. The firm is NOT a perfect competitor. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii
The demand curve for high-skilled workers lies to the right of the demand curve for low-skilled workers because of the higher productivity of high-skilled workers
Indicate whether the statement is true or false
________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
A) Autarky B) Absolute advantage C) Comparative advantage D) Specialization
LISA BETH Mustard Company undertakes an advertising campaign and finds that within the industry's relevant price range, the price elasticity of demand for its own mustard fell from 3.5 to 0.94 . As a result, we would expect that LISA BETH
a. would raise its price to increase total revenue b. would cut its price to increase total revenue c. would increase output to increase total revenue d. would increase output to reduce average total cost e. operates in a perfectly competitive market