Which of the following is likely a variable cost?
A. Hourly wages
B. Fuel
C. Raw materials
D. All of these choices are variable costs.
D. All of these choices are variable costs.
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The sum of the current account plus the capital and financial account plus the official settlements account equals
A) 100 percent. B) U.S. official reserves. C) U.S. exports. D) zero. E) government expenditures.
The demand curve for labor slopes down because
A) firms value less efficient workers less than they value more efficient workers. B) firms must lower prices to sell the additional units of its product that the extra workers produce. C) of the law of diminishing marginal product. D) of profit maximizing behavior.
A tax cut is likely to cause:
A. An increase in consumer spending. B. A decrease in saving. C. A decrease in aggregate demand. D. An increase in government spending.
Which of the following is true about demand?
A. Demand reflects the desire for a good but not necessarily the ability to buy it. B. In order to demand a good, a person must be willing and able to buy the good. C. When drawing a demand curve, influences such as price do not change. D. Demand reflects the ability to buy a good but not necessarily the desire to do so.