In the case study in the text involving calculator production, the fact that each calculator produced added $10.30 to cost and $12 to revenue made clear the value of ____ in determining whether or not to suspend production
a. average fixed cost
b. cost saving
c. marginal analysis
d. the level of fixed cost
c
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Absolute poverty measures vary from country to country. For example, in 2015, the poverty line in the United States for a family of four with two children
was an annual income of $24,250 but economists often use a much lower threshold income of $1 per day when calculating the rate of poverty in poor countries. How is this absolute poverty measured? A) by comparing the amount of goods and services that a household's income can purchase in one country to the amount of goods and services that a household's income can purchase in another country of comparable living standard B) by comparing the amount of goods and services that a household's income can purchase to an objective measure of the amount of income needed to sustain a certain predetermined standard of living C) by comparing the percentage of households living below the poverty line to the total population D) by comparing a household's income to the income required to maintain the average standard of living in a society at a particular time
When actual real GDP is equal to the natural real GDP, the unemployment rate is
A) zero. B) at its "natural" rate. C) accelerating. D) decelerating.
Refer to the diagram. Line (2) reflects a situation where resource prices:
A. decline as industry output expands.
B. increase as industry output expands.
C. rise and then decline as industry output expands.
D. remain constant as industry output expands.
A pollution permit trading system
a. is not a market-oriented policy instrument b. is used to combat acid rain in the United States c. is not viable on an international level d. is not capable of achieving a cost-effective solution