Figure 7-9
Of the graphs in Figure 7-9, which represents average fixed cost?
A. 1
B. 2
C. 3
D. 4
Answer: A
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The ________ the reserve ratio, the ________ the money multiplier
A) larger; larger B) smaller; smaller C) smaller; larger D) None of the above are correct.
The GNP and National Income (NI) figures are not equal because
a. business profits are included in GNP but not in NI. b. capital consumption allowance and productive resource income from the rest of the world are included in GNP but not in NI. c. all taxes must be deducted from GNP to arrive at NI. d. None of these.
In the U.S. economy, the inflation rate in 1975 peaked at ________ percent.
A. 9.2 B. 11.1 C. 14.2 D. 22.4
Which of the following is a major impact of offshoring?
a. Elimination of domestic jobs b. Elimination of jobs in foreign countries c. Creation of jobs in the domestic country d. An increase in the cost of production of domestic firms e. A reduction in the cost of production of foreign firms