If average fixed cost and average variable cost are summed together, the result is:
a. total revenue

Which of the following statements about crowding out is true?

a. It can completely offset the multiplier. b. It is caused by a budget deficit. c. It is not caused by a budget surplus. d. All of these are true.

When the economy experiences a permanent supply side shock that shifts the long-run aggregate supply to the right, the short run aggregate supply curve will:

A. instantly shift left with the long-run aggregate supply to the new long-run equilibrium. B. begin by shifting left initially, and then be pulled right by the long-run aggregate supply over time. C. gradually shift right until it reaches long-run aggregate supply and the new long-run equilibrium. D. None of these is true.