The multiplier effect relates changes in
A. disposable income to changes in consumption.
B. the price level to changes in real GDP.
C. the interest rate to changes in investment.
D. spending to changes in real GDP.
Answer: D
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Refer to the table below. What is Gorgeous Sands Resort's long-run average cost?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $6,000
B) $1,000
C) $3,000
D) $5,000
For the courts, being too big a firm in an industry can be sufficient grounds, using the per se criterion, to charge the firm with violating antitrust laws
Indicate whether the statement is true or false
Total surplus is at its minimum when the market operates at the equilibrium price and quantity
a. True b. False Indicate whether the statement is true or false
Perfect competition is characterized by many firms and no barriers to entry.
Answer the following statement true (T) or false (F)