One of the opportunity costs of economic growth is

Which of the following are policy instruments available to the Fed as it tries to achieve its macroeconomic goals?

i. government expenditure on goods and services and taxes ii. the government budget deficit or surplus iii. changes in the federal funds rate A) iii only B) ii and iii C) ii only D) i and ii E) i and iii

A perfectly competitive firm shuts down if the price of its product is

A) greater than its minimum average variable cost. B) less than its minimum average variable cost. C) greater than its maximum variable cost. D) less than its minimum total cost.