Gross private domestic investment includes business:
a. purchases of capital goods, all new construction, and purchases of consumer durable goods.
b. purchases of capital goods, all new construction, and inventory investment.
c. purchases of capital goods, all new commercial construction, and inventory investment.
d. purchases of capital goods, all new residential construction, and inventory investment.
e. purchases of all types of durable goods, all new construction, and inventory investment.
b
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Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $12; AVC = $10; MC = $15; MR = $13. The firm should
A) decrease output. B) increase output. C) increase price. D) change nothing.
An aggregate supply curve that is a vertical line must be:
A. a short-run curve. B. an individual firm's supply curve. C. an individual industry's supply curve. D. a long-run curve.