With what measure does cyclical unemployment tend to move?
A. Per capita GDP growth rate
B. Nominal GDP
C. Inflation
D. GDP deflator
A. Per capita GDP growth rate
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If a production technology has increasing returns to scale throughout, then the marginal cost curve lies below the average cost curve throughout.
Answer the following statement true (T) or false (F)
When one country has higher nominal interest rates than another country, the high-interest-rate currency is expected to ________ relative to the low-interest-rate currency
A) depreciate B) appreciate C) stay constant D) None of the above
Suppose consumption is $5,000 when income is $8,000 and the MPC equals 0.9. When income increases to $10,000, consumption is
A. $2,700. B. $4,500. C. $6,800. D. $7,200.
Economic profits at the short-run break-even point are
A) positive. B) negative. C) equal to zero. D) indeterminate since they also depend on the size of the fixed costs.