All of the following are tangible goods except:
a. a skateboard

If a firm is experiencing an economic loss in the long run, then

a. it must be experiencing an accounting loss b. it should stay in business if it can cover its fixed costs c. the market must be too large d. it should exit from the industry e. price exceeds marginal cost

Which of the following is incorrect?

A. As the American average price level rises, American goods become relatively more expensive so that our exports fall and our imports rise. B. As the average price level falls, the interest rate declines, and interest-rate sensitive spending increases. C. When the average price level increases, real balances increase, businesses and households find themselves wealthier and therefore increase their spending. D. An increase in aggregate supply tends to increase real domestic output and reduce the average price level.