The table above gives production information for Bob's Baseball Cap Company. Bob's total cost when zero caps are produced is $200 and workers cost $10 per hour. The marginal cost per hat of producing 30 hats per hour (instead of 25 ) is
A) $240.00 per hat.
B) $250.00 per hat.
C) $8.33 per hat.
D) $2.00 per hat.
D
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Use the figure below to answer the following question.
A decrease in supply would best be reflected by
A. a shift from supply curve A to supply curve C. B. a movement from point 4 to point 3. C. a shift from supply curve C to supply curve B. D. a movement from point 1 to point 2.
Positive and normative statements differ in that
A) positive statements can be tested, whereas normative statements cannot. B) normative statements can be tested, whereas positive statements cannot. C) normative statements depict "what is" and positive statements depict "what ought to be." D) normative statements never use the word "should."
Excess supply of dollars in the foreign exchange market represents a balance of payments deficit in the U.S
Indicate whether the statement is true or false
The "direct effect" of an increase in the money supply is to
A) increase aggregate demand as people spend their excess money balances. B) increase aggregate demand as interest rates fall and investment spending increases. C) increase aggregate supply as producers anticipate higher future profits. D) decrease the rate of inflation.