Which of the following is a major macroeconomic goal?
a. Low prices
b. Fair prices
c. Pure competition
d. Low unemployment
e. High prices
D
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If a firm is experiencing diseconomies of scale, its long-run marginal cost curve is upward sloping
a. True b. False
In the short run, expansionary monetary policy ________ real gross domestic product (GDP), ________ unemployment, and ________ the price level.
Fill in the blank(s) with the appropriate word(s).
Figure 33-6
?
If Figure 33-6 (a) illustrates the elimination of a recessionary gap, then the economy should move to what point on the curves shown in Figure 33-6 (b)?
A. From e to r B. From g to j C. From r to j D. From r to m
When the firm is at its shutdown price
a. it has losses equal to fixed costs. b. break-even line right at bottom of MC c. shut down price is below AVC d. all of the above