In a perfectly competitive market, the average revenue curve of a firm is
A) the same as its total revenue curve.
B) the same as its demand curve.
C) the same its economic profits.
D) the difference between its total revenue curve and its marginal revenue curve.
B
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For an economy starting at full employment real GDP, a decrease in investment results in a(n)Â
A. decrease in full-employment output. B. inflationary output gap. C. recessionary output gap. D. increase in full-employment output.
The U.S. economy experienced deflation right after World War I and World War II
a. True b. False Indicate whether the statement is true or false
A bank's "required reserves" are:
A. held as deposits with the Federal Reserve System. B. equal to its checkable deposits. C. equal to its transactions deposits. D. equal to its loans.
A budget deficit is best defined as the
A. shortage of spending power created by a government spending cut. B. shortage of spending power created by a tax increase. C. accumulation of past debt that has not been covered by taxes. D. amount by which a government’s expenditures exceed receipts during a specific time period.