Increases in resources and efficiency would increase potential GDP
Indicate whether the statement is true or false
TRUE
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Given U.S. tax laws, persistently high inflation may result in
a. They increase growth because particulates provide an additional carbon source b. faster economic growth because the after-tax real interest rate is higher. c. slower economic growth because the after-tax nominal interest rate is lower. d. faster economic growth because the after-tax nominal interest rate is higher.
The long-run average total cost curve:
A. displays declining unit costs so long as output is increasing. B. indicates the lowest unit costs achievable when a firm has had sufficient time to alter plant size. C. has a shape that is the inverse of the law of diminishing returns. D. can be derived by summing horizontally the average total cost curves of all firms in an industry.