The phrase "spreading the overhead" refers to
A. the decrease in total cost that occurs as a firm reduces the size of its work force.
B. the decrease in average fixed cost that occurs as a firm increases its output.
C. the decrease in average variable cost that occurs as a firm increases its output.
D. the decrease in total fixed cost that occurs as a firm increases its output.
B. the decrease in average fixed cost that occurs as a firm increases its output.
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In the Keynesian model, a $1 billion increase in autonomous consumption leads to ________ in equilibrium output.
A. no change B. a greater than $1 billion increase C. a $1 billion decrease D. a $1 billion increase
Shifting resources away from producing one good in order to produce another is an example of
a. Unlimited resources b. Limited wants c. Opportunity cost d. None of the above
If Nepal is a net importer of computers, free trade will hurt the
A. poor citizens of Nepal. B. domestic producers of computers. C. rich citizens of Nepal. D. domestic consumers of computers.
The recession of 2007-2009 started
A. abruptly in 2007 with higher gasoline prices. B. in 2006. C. rather mildly in late 2007. D. with the financial collapse.