An increase in a budget deficit financed by borrowing can increase interest rates and reduce investment spending thereby creating lower rates of economic growth

In a sense, the long-run average cost curve is holding

A) short-run average variable cost curves. B) short-run marginal cost curves. C) short-run average total cost curves. D) short-run total cost curves.

The substitution effect of a decrease in the wage rate would lead most people to

a. supply less labor and demand less leisure. b. supply less labor and demand more leisure. c. supply more labor and demand less leisure. d. supply more labor and demand more leisure.