Total variable costs:
a. are costs associated with short-run fixed capital
b. are so named because they vary from firm to firm within an industry.
c. increase as production increases.
d. decrease as production increases.
c
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If the public believes that the commitment to a nominal anchor is not credible, the effect of a negative aggregate demand shock is for ________
A) short-run aggregate supply to shift down B) short-run aggregate supply to remain unchanged C) short-run aggregate supply to shift up D) inflation, but not economic activity, to decrease
Which of the following statements is TRUE of static tax analysis?
A) A government receives lower tax revenues by raising the tax rate. B) A government receives higher tax revenues by raising the tax rate. C) A government cannot change it tax revenues by changing the tax rate. D) A change in the tax rate can raise or lower tax revenues, depending on other factors.