A credible threat is:
A. possible to carry out.
B. in the threatener's interest to carry out.
C. legally enforceable.
D. not in the threatener's interest to carry out.
Answer: B
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If fixed costs do not change, then marginal cost
A) equals the change in variable cost divided by the change in output. B) also remains constant. C) equals the change in average fixed cost divided by the change in output. D) equals the change in average variable cost divided by the change in output.
According to Irving Fisher, velocity ________
A) is determined by institutions that affect the way individuals transact B) is affected by institutions only gradually C) is assumed constant in the short run D) all of the above E) none of the above
Which of the following ideas were central to the conclusions drawn by Thomas Malthus in his 1798 "Essay on the Principle of Population"?
A) Short-run time period B) Shortage of labor C) Law of diminishing resource availability D) Law of diminishing returns
The "duplication laws," passed by Parliament in the late 17th and 18th centuries, restricted colonial export of
a. woolen goods. b. tobacco. c. pig iron. d. cotton. e. All of the above.