Which of the following statements concerning the short-run average cost curve of economic theory is true?
a. It is L-shaped
b. It is ?-shaped
c. It is ?-shaped
d. It is ?-shaped
e. It is M-shaped
c
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The effects of an increase in real money demand on an economy
A) is an argument against flexible exchange rates. B) is an argument in favor of flexible exchange rates. C) shows the difficulties in determining which exchange rate regime is better. D) is an argument in favor of flexible exchange rates only in the short run. E) is an argument against flexible exchange rates only in the short run.
Which of the following lies primarily within the realm of macroeconomics?
a. a study of the elasticity of demand for gasoline b. a study of how tax cuts stimulate aggregate production c. an analysis of supply and demand conditions in the electricity market d. a study of the impact of "mad cow" disease on the price of beef worldwide