Is it more efficient for a group of musicians to perform a show "unplugged" (with acoustic instruments) or with state-of-the-art electric instruments?
A) Unplugged is more efficient because the instruments are considerably less expensive to operate.
B) It depends on what the musicians are trying to accomplish.
C) The use of electric instruments is more efficient because acoustic instruments have become more expensive in recent years.
D) It depends exclusively on the relative ratios of energy output to energy input in each instrument class.
B
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Refer to Figure 9.2. A movement from point a to point b could be caused by a(n)
A) increase in government spending. B) decrease in the price of oil. C) decrease in taxes. D) decrease in short-run aggregate supply.
In the above figure, when the firm produces output corresponding to point c, the firm's marginal cost
A) is less than its marginal revenue. B) equals its marginal revenue. C) exceeds its marginal revenue. D) equals its average revenue.
Examination of data since 1953 indicates that during this period stretching more than half a century, the Phillips curve
A. slopes smoothly upward at first but then slopes smoothly downward. B. is smoothly upward sloping. C. is smoothly downward sloping. D. fails to exist.
A decrease in crime would be reflected in a country's GDP.
Answer the following statement true (T) or false (F)