An economic expansion refers to an increase in the volume of goods and services produced.
Answer the following statement true (T) or false (F)
True
During an economic expansion, GDP rises and unemployment falls.
Economics
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The short-run supply curve for a perfectly competitive firm is that part of the firm's marginal cost curve that lies above the minimum point of its average variable cost curve
Indicate whether the statement is true or false
Economics
In economics, money is an example of capital
a. True b. False
Economics
When firms enter a market, the supply increases and price:
A. increases and profits decrease. B. falls and profits increase. C. falls and profits decrease. D. increases and profits increase.
Economics
The Social Security program is an income transfer program for retired workers only.
Answer the following statement true (T) or false (F)
Economics