The perfectly competitive firm's supply curve includes
a. that portion of the marginal cost curve above the minimum point on the average variable cost curve
b. its economic profit schedule
c. that portion of the marginal revenue curve above minimum average variable cost
d. that portion of the average total cost curve above minimum average variable cost
e. the firm's effective resource demand curve
A
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When investment increases, the multiplier points out that
A) consumption decreases by a greater amount. B) consumption increases by the same amount. C) real GDP increases by a greater amount. D) ultimately investment increases by more than the initial increase. E) real GDP decreases by a greater amount.
The Board of Governors of the Federal Reserve consists of seven members, each of which are
A) appointed by the president of the United States. B) elected by the public every two years. C) presidents of one of the 12 regional Federal Reserve Banks. D) CEOs of commercial banks within each Federal Reserve district.