Refer to the information above. In which period does net investment reach its peak?
A) 1
B) 2
C) 3
D) 4
E) 5
B
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The U.S. economy has become a less closed economy over the past 50 years.
Answer the following statement true (T) or false (F)
If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is to produce less of the other
Indicate whether the statement is true or false
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The fixed cost of production is $20,000. The price of each good is $10. Should the firm continue to produce in the short run?
A) Yes, it should continue to produce because its price exceeds its average fixed cost. B) No, it should shut down because it is making a loss. C) Yes, it should continue to produce because it is minimizing its loss. D) There is insufficient information to answer the question.
Refer to the above figure. The classical aggregate supply curve is represented by ________ and the Keynesian short-run aggregate supply curve is represented by ________
A) curve 2; curve 1 B) curve 2; curve 3 C) curve 3; curve 4 D) curve 2; curve 4