A firm will choose to minimize their costs subject to their ______________
Fill in the blank(s) with the appropriate word(s).
Ans: isocost line
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If the dollar appreciates, how will aggregate demand in the United States be affected?
A) Aggregate demand will shift to the right as exports increase. B) Aggregate demand will shift to the right as imports increase. C) Aggregate demand will shift to the left as exports increase. D) Aggregate demand will shift to the left as imports increase.
Suppose there is no unemployment in the economy and society decides that it wants more of one good. Which of the following statements is true?
A) It can only achieve this with an advance in technology. B) It can increase output without giving up another good. C) It can only achieve this with an increase in resource supplies. D) It will have to give up production and consumption of some other good.