________: the sum of all individual categories of production costs that do vary with the level of production
Fill in the blank(s) with correct word
Total variable costs
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________ is the market value of the final goods and services produced within the borders of a country during a particular period of time
A) Net Product Value B) Gross National Product C) Total Product D) Gross Domestic Product
According to the text, is there any relationship between bureaucratic inefficiency and economic growth?
A) Yes, bureaucratic inefficiency and economic growth are positively related. B) No. Some nations' economies grow rapidly despite their inefficient governments while others collapse with inefficient governments. C) Yes, but only in the most economically developed nations. D) Yes, bureaucratic inefficiency and economic growth are inversely related.
Cupcakes and granola bars are substitutes in consumption. The price of a granola bar increases so the demand for
A) granola bars will increase, that is, the demand curve will shift rightward. B) cupcakes will increase, that is, the demand curve will shift rightward. C) granola bars will decrease, that is, the demand curve will shift leftward. D) cupcakes will decrease, that is, the demand curve will shift leftward.
If the cost of capital decreased to 1%, does the firm invest in the new technology?
a. Yes because the NPV>0 b. Yes because the NPV=0 c. Need information on the marginal benefits and costs d. No because the NPV<0