Unplanned inventory decreases:
a. tend to result in an decrease in income
b. tend to result in an increase in real output.
c. tend to further reduce production.
d. signal that demand was weaker than expected.
b
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________,
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
Refer to Figure 3-5. At a price of $0,
A) there is a shortage of 0 units. B) there is a surplus of 8 units. C) there is a surplus of 0 units. D) there is a shortage of 8 units.
Refer to Table 11-7. What is the average variable cost per unit of production when the firm produces 90 lanterns?
A) $490 B) $33.67 C) $7.67 D) $5.44
In the prisoner's dilemma game:
A. if players can communicate in advance, they will always cooperate. B. if players can communicate in advance, they may still not cooperate. C. will always choose to cooperate. D. will only cooperate if they are trustworthy.