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Question
Fiscal policy refers to the
A) manipulation of the money supply in order to increase the amount of paper currency in circulation.
B) adjustment of government spending and taxes in order to achieve certain national economic goals.
C) adjustment of national income data to account for price level changes.
D) changing the way unemployment data is calculated so as to make it appear that unemployment is lower than it actually is.
Answer
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If the marginal product curve is intersecting the average product curve, we know thatA) the average variable cost curve is intersecting the average total cost curve.B) the marginal cost curve is intersecting the average fixed cost curve. C) the average total cost curve lies above the marginal cost curve.D) the marginal cost curve is intersecting the average total cost curve.
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Why?
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