A firm's total cost of production
a. always increases as it produces more output
b. can increase or decrease as it produces more output
c. increases at a decreasing rate as long as it produces more output
d. is fixed in the short run, because inputs are fixed in the short run
e. can be minimized by producing where the firm's demand curve crosses the horizontal axis
A
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At higher nominal rates of interest, the demand for real balances is:
a. higher because savers can earn higher returns. b. lower because the opportunity cost of holding those funds is higher. c. invariant with respect to the nominal interest rate. d. inversely related to the price level.
Gross investment minus depreciation is equal to
A) nominal investment. B) personal investment. C) gross domestic product. D) net investment.