Which of the following is the correct way to calculate total cost?
A. TVC - TFC
B. ATC × q
C. TFC × TVC
D. TR - TVC
Answer: B
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A scientist who is studying earthquakes includes the impact of wind when performing some tests of damages to structures. This is an example of
A) failing to understand how to do scientific methodology. B) irrational behavior in noneconomic situations. C) accounting for every possible phenomena that may effect the problem under examination. D) failing to hold all other things constant.
According to Arthur Schlesinger, Jr., government spending
a. may grow more slowly during conservative periods, but will never contract. b. follows a natural cycle of increases during liberal periods and decreases during conservative periods. c. grows at the same rate under both liberal and conservative leadership; only the distribution (defense v. civilian) of the spending changes. d. reflects attempts by political leaders to reject the dominant political ideology of their youth.
Average variable costs:
A. decrease, then increase as output increases. B. increase, then decrease as output increases. C. always trend upward as output increases. D. always trend downward as output increases.
According to purchasing-power parity which of the following would happen if a country raised its money supply growth rate?
a. its nominal exchange rate would fall b. its real exchange rate would fall c. its real net exports would rise d. All of the above would happen.