Which statement about the total variable cost curve is true?
a. It begins at the origin and increases before decreasing again.
b. The total variable cost curve is the same at all levels of output.
c. The total variable cost curve is increasing but at a decreasing rate.
d. It begins at the origin and is always increasing.
e. There is no such thing as a total variable cost curve.
d
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Which combination of factors would most likely increase aggregate demand?
A. An increase in business taxes and a decrease in profit expectations. B. An increase in household indebtedness and a decrease in net exports. C. An increase in net exports and a decrease in government spending. D. An increase in consumer wealth and a decrease in interest rates.
If resource suppliers and demanders find out that the actual price level exceeds the expected price level, they will take corrective actions that will: a. cause the economy to move away from the potential output level
b. raise the unemployment level above the natural rate of unemployment. c. shift the aggregate demand curve of an economy. d. shift the short-run aggregate supply curve of an economy. e. lower the actual price level.
Which region has the lowest GDP per capita?
a. South Asia b. Latin America and Caribbean c. Sub-Saharan Africa d. Europe and Central Asia
Table 15.1Table 15.1 shows the preferred budget in millions for a new sports facility and the number of thousands of voters in a community who prefer that budget. What budget does the median voter prefer?
A. 3 B. 4 C. 5 D. 6