John has financial assets totaling $1.5 million, and he plans to use these assets to start his own business. Since John owns these funds and will not need to borrow to start his business, these assets are considered human capital

At the current level of production, if the firm's MR>MC, then the firm should

a. produce more b. the company is maximizing profit at this output c. producing less d. None of the above

An economic boom that creates an inflationary gap is usually followed later by

a. falling prices. b. a period of stagflation. c. an increase of potential GDP. d. an increase in aggregate supply.