Demand-pull inflation is caused by a rightward shift of the aggregate demand curve
a. True
b. False
Indicate whether the statement is true or false
True
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Accounting profit minus implicit costs equals:
A. explicit costs. B. economic profit. C. fixed costs. D. total revenues.
A stockholder ________ an owner of the firm, and a bondholder ________ an owner of the firm
A) might be; is not B) is; is not C) is not; is D) is not; is not E) is; is
Refer to Figure 11-12. Which of the following statements about the input combinations shown in the diagram is false?
A) The firm produces a lower output level when it uses input combination d compared to input combination a. B) The firm incurs the same total cost when it uses input combination a or c to produce a given quantity of output. C) The firm produces the same output level when it uses input combination a or c. D) The firm produces a higher output level when it uses input combination b compared to input combination a.
Sun City’s public bus line has been operating at a deficit. The city decides to raise the fare from 50 cents to 75 cents, anticipating enough additional revenue to cover the deficit. What assumption is the city making about price elasticity?
What will be an ideal response?