Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. What is Archibald's shut-down point?
A) $10.00
B) $16.67
C) $15.00
D) $12.50
D
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Given the information in the table above, Home's opportunity cost of cloth is
A) 0.5. B) 2.0. C) 6.0. D) 1.5. E) 3.0.
Suppose that a labor union negotiates an increase in wages of 4 percent for the coming year because annual inflation for the past five years has been 4 percent. The expectations formed by the union are:
a. pessimistic expectations. b. deductive expectations. c. rational expectations. d. adaptive expectations. e. optimistic expectations.
A midwestern farmer grows wheat and sells it to a miller for $500 . After processing, the miller sells the flour to a baker for $800, who then sells it to a grocery store for $1,000 . The grocery store sells it to customers for $1,200 . In these transactions, how much has been added to GDP?
a. $500 b. $800 c. $1,000 d. $1,200 e. $3,500
When will stabilization policy be most effective in combating inflation?
A. When AS is flat B. When AS is very steep C. When AS has a moderately upward slope D. When AS has a moderately downward slope