Refer to the above table. What are total variable costs at an output of 3 units?
A. $120
B. $270
C. $150
D. $90
Answer: A
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Which of the following statements is correct?
A. An increase in exports and an increase in imports will both tend to decrease the equilibrium real GDP. B. An increase in exports and an increase in imports will both tend to increase the equilibrium real GDP. C. An increase in exports will tend to decrease, and an increase in imports will tend to increase, the equilibrium real GDP. D. An increase in exports will tend to increase, and an increase in imports will tend to decrease, the equilibrium real GDP.
In the short run, how is the interest rate determined? If the interest rate is less than the equilibrium interest rate, what occurs?
What will be an ideal response?
Suppose an exhaustible resource can be sold only this period or next period. The resource owner is considering selling 100 tons of the resource this period
The future value of the resource when 100 tons are sold this period is less than the present value of the 100 tons sold this period multiplied by one plus the interest rate. What should the resource owner do? A) She should sell more than 100 tons this period. B) She should sell only 100 tons this period. C) She should sell less than 100 tons this period. D) She should not sell any of the resource in either period.
The change in total planned real expenditures resulting from a change in the real value of money balances when the price level changes, all other things held constant, is
A) the real-balance effect. B) the interest rate effect. C) the open economy effect. D) demand side inflation.