How does a rise in real income affect aggregate demand?
A) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by more.
B) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by more.
C) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, and Y ? implies Yd ? implies C ? implies AD ?.
D) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by less.
E) Y ? implies Yd ? implies Im ? implies CA ? implies AD ?, but Y ? implies Yd ? implies C ? implies AD ? by less.
A
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Life expectancy at birth in the United States has more than doubled since 1850
Indicate whether the statement is true or false
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The fixed cost of production is $20,000. The price of each good is $10. Should the firm continue to produce in the short run?
A) Yes, it should continue to produce because its price exceeds its average fixed cost. B) No, it should shut down because it is making a loss. C) Yes, it should continue to produce because it is minimizing its loss. D) There is insufficient information to answer the question.