Short-run costs that depend on the level of output are
A) total fixed cost only.
B) total variable costs only.
C) total costs only.
D) both total variable costs and total costs.
D) both total variable costs and total costs.
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Why are check able deposits counted as part of a nation’s money supply?
What will be an ideal response?
In the long run, a monopolistically competitive firm earns small economic profits.
Answer the following statement true (T) or false (F)
Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate?
a. store of value b. medium of exchange c. unit of account d. None of the above is correct.
If economists say that a 7 percent growth in the money supply will increase aggregate demand by 7 percent, they are assuming that velocity
A. will decrease. B. is constant. C. will increase. D. is unpredictable.