In the above table, the average variable cost of producing 14 units of output is
A) $0.175.
B) $5.71.
C) $7.86.
D) $10.00.
B
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A major difference between the transactions demand for money and the precautionary demand is that the
A) transactions demand is for emergencies while the precautionary demand is for every day expenditures. B) transactions demand involves expected expenditures while the precautionary demand involves unexpected expenditures. C) transactions demand means that people are foregoing interest but they are not foregoing interest in the precautionary demand. D) transactions demand leads to the purchase of assets while the precautionary demand does not.
The larger the value of U.S. imports, the greater the quantity of ________ causing the quantity supplied of dollars to ________
A) U.S. dollars demanded; increase B) U.S. dollars demanded; decrease C) foreign currency demanded; increase D) foreign currency demanded; decrease
What percentage of the new drugs introduced in the United States between 1940 and 1990 were discovered by U.S. firms?
a. 60 b. 30 c. 15 d. 75 e. 45
Which of the following is true about a perfectly competitive firm in the long run and in the short run?
A. The supply curve in the short run is usually steeper than the supply curve in the long run. B. The supply curve in the short run is usually flatter than the supply curve in the long run. C. The demand curve in the short run is usually steeper than the marginal cost curve in the long run. D. The supply curve in the short run is usually steeper than the average total cost curve in the long run.