Refer to the information provided in Figure 8.4 below to answer the question(s) that follow. 
Figure 8.4 Refer to Figure 8.4. Micro Oven's average fixed costs of producing six units of output are
A. $41.66.
B. $50.
C. $100.
D. indeterminate from this information.
Answer: B
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Which of the following would tell us that resources are not flowing to their highest valued uses?
A) short-run economic profits B) short-run economic losses C) song-run economic profits D) Some firms are just breaking even.
The consensus among researchers is that union workers earn 15 percent more than otherwise identical nonunion workers. This means unions have probably raised wages
a. exactly 15 percent. b. less than 15 percent. c. at least 15 percent. d. more or less than 15 percent, but one cannot tell exactly.
An increase in the money supply
a. lowers the interest rate, causing a decrease in investment and an increase in GDP. b. lowers the interest rate, causing an increase in investment and a decrease in GDP. c. lowers the interest rate, causing an increase in investment and an increase in GDP. d. raises the interest rate, causing an increase in investment and an increase in GDP. e. raises the interest rate, causing a decrease in investment and a decrease in GDP.
If the dollar/pound exchange rate is $2/£, a Big Mac costs $5 in New York City and costs £2 in London, the pound is ________, and U.S. tourists will be ________
A) overvalued; better off in London B) overvalued; better off in New York C) undervalued; better off in London D) undervalued; better off in New York