Which of the following is true if the total cost curve is rising?
a. Total fixed cost is decreasing.
b. Total fixed cost is increasing.
c. Marginal cost is decreasing.
d. Marginal cost is increasing.
d
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The following statements are accurate except a. Social Security represents in-kind transfer payments. b. The percentage of people below the poverty line fell dramatically between 1960 and 1970
c. The negative income tax was designed to preserve incentives to work. d. Income inequality in the U.S. is less unequal than the inequality of wealth. e. The Gini coefficient measures income distribution.
Which of the following will not cause the aggregate supply curve to fall?
a. Natural disasters. b. An increase in input prices. c. A reduction in the nation's level of productivity. d. A decrease in the nation's average price level (i.e., the implicit price index). e. None of these answers is correct.