If the dollar depreciates, both the aggregate demand curve and the aggregate supply curve shift inward
a. True
b. False
Indicate whether the statement is true or false
False
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What will be an ideal response?
Suppose a technological innovation shifts the marginal cost curve downward. Which one of the following cost curves does NOT shift?
A) Firm's short-run supply curve B) Average total cost curve C) Average variable cost curve D) Average fixed cost curve
Which of the following is not a characteristic of perfect competition?
A. Firms and consumers all have perfect information about the good and market. B. Sellers can enter the market easily. C. All goods sold are identical. D. All consumers have identical individual demand curves.
What assumptions are necessary to prevent indifference curves from crossing?
A. Transitivity and more is better B. More is better C. Transitivity D. Completeness