A ____ total cost function yields a U-shaped average total cost function

The downward slope of the demand for money curve reflects the fact that

A) people hold more of their wealth in the form of money as the price level rises. B) people hold more of their wealth in the form of money as the price level falls. C) people hold more of their wealth in the form of money as the interest rate rises. D) people hold more of their wealth in the form of money as the interest rate falls.

The production possibilities frontier can be used to show all of the following except one. Which is the exception?

a. scarcity b. opportunity cost c. the law of increasing opportunity cost d. efficiency e. the best combination of goods and services for an economy