When marginal cost is below average total cost: a. total cost is ...

[lbcchick]

When marginal cost is below average total cost:
 a. total cost is falling.
  b. total cost is rising.
  c. average total cost is falling.
  d. average fixed cost is rising.
  e. total variable cost is falling.

Question 2

Which of the following was true of the United States before 1970?
 a. The government was not responsible for promoting employment, output, and purchasing power.
  b. Most macroeconomic instability was caused by changes in international oil prices.
 c. Most macroeconomic instability was caused by shifts of aggregate demand.
 d. Most macroeconomic instability was caused by the depreciation of the dollar.
 e. The government was responsible for using monetary policy to correct a depression.

[Dominic]

Answer to Question 1

c

Answer to Question 2

c

[lbcchick]

Excellent

[gcook]

TYSM