Suppliers will be willing to supply a product in all of the following situations except when
A) the price received is greater than the additional cost of producing the product.
B) the price received is at least equal to the additional cost of producing the product.
C) the price received is equal to the additional cost of producing the product.
D) the price received is less than the additional cost of producing the product.
Answer: D
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If the Fed wanted to target price stability, meaning zero inflation, why should it set a target rate of inflation of around one percent?
What will be an ideal response?
According to hegemonic stability theory, the United States will
a. be relieved to finally let go of its status as world leader. b. not give up its global preeminence without a fight. c. diminish so gradually that its reduced global influence will hardly be noticed. d. never have to worry about losing its world dominance.
In the long run, a company should choose the plant size that yields the lowest average total cost for the desired rate of output.
Answer the following statement true (T) or false (F)
According to the quantity theory of money, an excess quantity of money supplied will lead to
A. a higher level of employment. B. a higher price level. C. a reduction in spending and higher interest rates. D. a reduced level of real Gross Domestic Product (GDP).