When marginal cost is between average variable cost and average total cost, marginal cost is increasing.
Answer the following statement true (T) or false (F)
True
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In the figure above, if the MPC increased, the aggregate expenditure lines would ________ and the multiplier would ________ in value
A) not change; rise B) become steeper; fall C) not change; fall D) become steeper; rise E) become less steep; rise
The opportunity cost of increased production of some good can be measured with
a. the slope of a ray to the production possibilities curve. b. the area under the curve of a production possibilities curve. c. the area of the rectangle bounded by the axes and the point on the production possibilities curve. d. the slope of the production possibilities curve. e. All of the above are correct.
The financial system coordinates investment and saving, which are important determinants of long-run real GDP
a. True b. False Indicate whether the statement is true or false
A monopolist earns higher profits by charging one price than by practicing price discrimination
a. True b. False Indicate whether the statement is true or false