What are the functions for MC and AC if TC = 20q + 10q2?
A) MC = 20q; AC = 10q2
B) MC = 20 + 20q; AC = 20 + 10q
C) MC = 20 + 10q; AC = 10 + 10q2
D) MC = 20 + 20q; AC = 10q
B
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The natural level of real GDP is that level of
A) real GDP at which the price level will continue increasing. B) nominal GDP at which the price level will remain constant. C) real GDP at which there is no tendency for inflation to accelerate or decelerate. D) Nominal real GDP at which the price level will continue to decrease.
The slowdown in labor productivity growth from 1973 to 1995 ________ matched by a similar slowdown in MFP growth, suggesting that the growth rate of capital had ________ to do with the productivity problem
A) was, much B) was, little C) was not, much D) was not, little
In the above figure, if we begin at S2 and the Fed buys bonds
A) the price of bonds falls, and the interest rate rises. B) the price of bonds falls, and so does the interest rate. C) the price of bonds rises, and so does the interest rate. D) the price of bonds rises, and the interest rate falls.
The consumption function assumes that:
a. only disposable income affects consumption b. only the price level affects consumption. c. many factors other than disposable income affect consumption, and each is allowed to vary along the consumption function. d. factors other than disposable income affect consumption, but those are held constant along the consumption function. e. only consumer expectations affect consumption.