An increase in the price level causes the aggregate supply curve to shift to another supply schedule.
Answer the following statement true (T) or false (F)
False
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What is causing South Africa’s youth unemployment problem?
a. Inability to devalue its currency b. High number of laws restricting hiring and firing c. High current account deficit d. Youth lack necessary work skills.
Stark Widgets produces 100 widgets per week at a price of $10 per widget. The manager decides to increase production to 10,000 widgets per week by assigning skillful workers. The average cost of production decreases with the increase in production. This implies that the firm experiences _____
a. privatization b. globalization c. economies of scale d. diseconomies of scale
Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the accompanying table.Number of Mugs Per DayTotal Cost Per Day0$101$142$193$254$325$406$49 If the market for mugs is perfectly competitive, and mugs sell for $7.50 each, then at his profit-maximizing level of output, Chris will earn a ________ of ________ per day.
A. profit; $30 B. loss; $2 C. profit; $2 D. loss; $10
If the supply of bonds in the United States decreases, bond prices will rise. When bond prices rise interest rates will
A) fall, which will make U.S. financial assets more attractive to foreigners. B) rise, which will make U.S. financial assets more attractive to foreigners. C) fall, which will make U.S. financial assets less attractive to foreigners. D) rise, which will make U.S. financial assets less attractive to foreigners.