The majority of American's trade deficit with China has been caused by
A. unfair competition.
B. excessive spending and inadequate savings in America.
C. cheap labor.
D. American investment in China.
B. excessive spending and inadequate savings in America.
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At what level of output will average variable cost equal average total cost?
a. when marginal cost equals average total cost b. for all levels of output in which average variable cost is falling c. when marginal cost equals average variable cost d. There is no level of output where this occurs, as long as fixed costs are positive.
Which of the following affects both the marginal and average total cost curves of a firm in the short run?
A. A change in consumer income. B. A change in property taxes. C. A change in profit taxes. D. A change in payroll taxes.
An official of the client company took securities from the safe deposit box and sold them to obtain cash to meet a personal financial crisis. Even with proper internal control, if the official purchased identical securities before the year-end and placed them in the safe deposit box, this improper "borrowing" would probably go undetected during the annual audit.
a. true b. false
If the money supply increased by 4 percent and velocity increased by 4 percent: a. nominal GDP would not change
b. nominal GDP would increase by 1 percent. c. nominal GDP would increase by 4 percent. d. nominal GDP would increase by 8 percent.