Contractionary fiscal policy actions
A) Would increase farmers' total assets. B) Would increase farmers' operating expenses.
C) Would decrease farmers' fixed liabilities. D) None of the above.
Answer: D
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The aggregate demand curve is usually
A) downward sloping. B) vertical. C) horizontal. D) upward sloping.
A positive technological change will cause the quantity of a good supplied to increase
Indicate whether the statement is true or false
A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the
A) real interest rate. B) productivity relation. C) production function. D) marginal product.
Monopolistically competitive firms prevent the efficient use of resources because in long-run equilibrium
A. price equals marginal cost. B. price is greater than marginal cost. C. price is less than marginal cost. D. marginal cost is less than average total cost.