The ________ part of a perfectly competitive firm's marginal cost curve that is equal to or above points on its average variable cost curve is the firm's short-run supply curve.
A. horizontal
B. declining
C. backward bending
D. rising
Answer: D
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The adjustment back to a long-run equilibrium after a sudden decrease in aggregate demand:
A. happens very quickly, leading to a temporary decrease in the unemployment rate. B. happens very quickly, leading to a temporary increase in the unemployment rate. C. takes a long time, during which the economy is growing very rapidly and very few people are unemployed. D. takes a long time, during which the economy is not growing much and many people are unemployed.
Bonds differ from stocks in all of these ways except:
a. a purchase of corporate stock becomes a part owner of the corporation, while a bondholder does not b. a bondholder loans money to the corporation, which has priority for repayment, while a stockholder may lose her investment c. stockholders know with a high degree of certainty how much money they will get, while bondholders do not d. all of these are correct