If a firm’s average cost is currently $100, and the marginal cost is $95, then the average cost is currently falling.
Answer the following statement true (T) or false (F)
True
Economics
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How long is the long run?
A. A defined, set period of time, usually a year B. However long it would take a firm to vary all of its costs C. However long it would take a firm to have at least one variable cost D. None of these defines the long run.
Economics
The labor-force participation rate tells us the fraction of the population that is able to participate in the labor market
a. True b. False Indicate whether the statement is true or false
Economics
Nominal GDP is $15 trillion and real GDP is $10 trillion. What is the GDP deflator? Show your work
Economics
Convergence refers to what phenomenon regarding growth theory?
What will be an ideal response?
Economics