Marginal revenue for a perfectly competitive firm equals:
a. the addition to total cost from producing one more unit of output.
b. average revenue at all levels of output

The normal life-cycle pattern of income reflects differences in earnings based on

a. race and education b. gender and education c. age and education d. race e. household size

Crowding out is the idea that an increase in government spending may cause a reduction in private sector spending.

Answer the following statement true (T) or false (F)