The average total cost curves for plants A, B, C and D are shown in the above figure. Which plant is best to use to produce 20 units per day?
A) plant A
B) plant B
C) plant C
D) plant D
A
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The implicit GDP deflator is
A) nominal GDP divided by real GDP. B) nominal GDP times real GDP. C) real GDP divided by nominal GDP. D) the zero economic growth society.
For a good with an external cost, the supply curve
A) represents the various quantities people can buy. B) is the same as the marginal private cost curve. C) is the same as the marginal social cost curve. D) is the same as the marginal external cost curve.
The most common form of "forced savings" in the U.S. is:
A. Medicare. B. unemployment insurance. C. Social Security. D. FICA.
Which of the following pairs of goods is probably NOT an example of substitutes?
A. Hamburgers and ketchup B. Chicken and steak C. Raincoats and umbrellas D. Potatoes and stuffing