Given the table below, what is average total cost when 200 units of output are produced? 
A. $4.00
B. $2.30
C. $2.50
D. $4.80
E. none of the above
Answer: D
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The United States is a major exporter of
a. diamonds b. bauxite c. coffee d. corn e. gold
Suppose an initial increase in government expenditure increases output by $50,000. If the size of the multiplier is 2.5, the size of the initial increase in government expenditure was _____
Fill in the blank(s) with the appropriate word(s).
Fiscal policy affects:
A. the demand for a currency but not the supply. B. the supply of a currency but not the demand. C. both the supply and demand for a currency. D. neither the supply of a currency nor the demand.
In sequential order, the four phases of the business cycle are
A. peak, contraction, trough, expansion. B. contraction, trough, peak, expansion. C. trough, peak, expansion, contraction. D. expansion, contraction, peak, trough.