Refer to Figure 8.4. If six microwave ovens are produced, Micro Oven's average total costs are
A) $33.33.
B) $83.33.
C) $116.67.
D) $200.00.
D) $200.00.
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Industria and Agraria are two neighboring countries. Suppose Good X is the only good produced in both the countries and is a function of physical capital and efficiency units of labor
It is found that a one unit increase in capital leads to a higher increase in the production of Good X in Agraria than in Industria. What is the reason behind this if the number of efficiency units of labor in both the countries are equal?
A fall in the price level brings a ________ in the real wage rate that ________ profits which leads to ________
A) fall; increases; firms temporarily shutting down B) rise; reduces; firms restarting production C) rise; increases; firms temporarily shutting down D) rise; reduces; firms temporarily shutting down E) rise; increases; firms restarting production
An increase in inflationary expectations __________ interest rate
A) raises the natural B) raises the nominal C) lowers the natural D) lowers the nominal
Statistical studies indicate that the liquidity trap
A) occurs during most recessions. B) occurs during inflationary periods. C) occurred only during the Great Depression. D) has not occurred.