The marginal cost curve intersects the average fixed cost curve at its minimum
Indicate whether the statement is true or false
False. Marginal cost intersects average variable cost (and average cost) at its minimum.
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Which of the following statements is true of models?
A) The predictions of a model are referred to as data. B) A model is formulated after developing a hypothesis. C) Models are always based on assumptions that are known to be true. D) It is more important for a model to be simple and useful than to be precisely accurate.
Under a flexible exchange system, which of the following will most likely cause a nation's currency to appreciate on the foreign exchange market?
a. an acceleration in the nation's inflation rate b. a balance of trade deficit c. a current account deficit d. a decline in the domestic inflation rate