A voluntary production reduction program:
A. offers firms incentives to reduce their production voluntarily.
B. forces firms to reduce their production.
C. offers firms incentives to increase their production voluntarily.
D. forces firms to increase their production.
A. offers firms incentives to reduce their production voluntarily.
You might also like to view...
The long-run market supply curve for an increasing-cost, perfectly competitive industry
a. is horizontal b. slopes upward c. is the portion of its marginal cost curve above the minimum point on its average variable cost curve d. is the portion of its marginal cost curve above the minimum point on its average total cost curve e. is vertical
A $1 million increase in investment spending will raise equilibrium output (real GDP) by:
a. less than $1 million. b. exactly $1 million. c. between $0.5 and $1.5 million. d. more than $1 million.