If the firms hires 5 workers, the average variable costs equals
a. $200
b. $50
c. $80
d. $40
d
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New classical economists believe that the classical model
a. with the rational expectations assumption added provides a role for activist stabilization policies. b. is a poor starting point to construct new macroeconomic models. c. with the rational expectations assumption substituted for the perfect information assumption provides a starting point for constructing useful macroeconomic models. d. is equivalent to the monetarist model. e. both c and d.
U.S. labor productivity had slowed down in the 1970s and 1980s, but recent data shows that labor productivity has once again increased in the country
a. True b. False Indicate whether the statement is true or false
Which of the following would likely be traded in a monopolistically competitive market?
a. Electricity b. Airline Tickets c. Pizza d. Wheat e. Water
If the U.S. Supreme Court ruled that states could no longer require people to have auto insurance, do you think most people would cancel their policies? Explain.
What will be an ideal response?