Marginal cost is the ________ associated with a particular increase in an activity
A) additional cost B) opportunity cost C) forgone cost D) total cost
A
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Which of the following is a correct description of the supply curve?
i. The supply curve is also the marginal cost curve. ii. The supply curve shows the dollars' worth of other goods that we must sacrifice to produce another unit of a good. iii. The supply curve shows the additional cost of producing another unit of a good. A) i only B) i and ii C) ii and iii D) i, ii, and iii E) ii only
The seller of an option has the ________ to buy or sell the underlying asset while the purchaser of an option has the ________ to buy or sell the asset
A) obligation; right B) right; obligation C) obligation; obligation D) right; right
During the antebellum period, the federal government assumed
(a) responsibility for full employment. (b) responsibility for stable prices. (c) responsibility for the overall economy through control of the money supply. (d) little responsibility for most economic matters, leaving them to private individuals in businesses and households.
Labor market discrimination refers to
a. differing economic opportunities offered to persons according to their productivity. b. wage differentials based on productivity differences. c. differing economic opportunities based on personal characteristics. d. wage differentials based on seniority and human capital.