According to the shutdown rule, a firm should produce no output in the short run if
A) price is below minimum average total cost.
B) price is above minimum average total cost.
C) total revenues are lower than total fixed costs.
D) price is below minimum average variable costs.
D
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Which of the following is not a depository institution?
a. A commercial bank b. A thrift institution c. A pension fund d. A savings and loan institution e. A credit union
Which one of the following statements best describes the results of the Clean Air Act in the United States?
a. It has been successful at reducing levels of both criteria and toxic pollutants b. It has been unsuccessful at reducing levels of both criteria and toxic pollutants c. It has been successful in reducing levels of criteria pollutants, but levels of toxic pollutants have increased d. It has been successful in reducing levels of toxic pollutants, but levels of criteria pollutants have increased e. It is too early to judge whether the Clean Air Act has reduced pollution levels
The supply curve for loans to high-risk borrowers is _________ the supply curve for loans to low-risk borrowers.
A. below B. to the right of C. flatter than D. to the left of
Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output. Thus:
A. saving is $10 billion. B. unplanned decreases in inventories of $10 billion will occur. C. the MPC is .80. D. unplanned increases in inventories of $10 billion will occur.