As a perfectly competitive firm's output increases, its total revenue ________ and its total cost ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
E) does not change; increases
A
Economics
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In autarky, when a community maximizes its standard of living, its production point is
A) below the production possibility frontier. B) on the production possibility frontier. C) above the production possibility frontier. D) Can't tell without more information.
Economics
The "allowable deficit" that causes no change in the debt-GDP ratio is equal to the ________ times ________
A) interest rate, outstanding national debt B) interest rate, nominal GDP C) rate of nominal GDP growth, outstanding national debt D) rate of nominal GDP growth, nominal GDP
Economics