Short-run total cost is the sum of
a. short-run fixed cost, short-run variable cost, and short-run marginal costs.
b. short-run fixed cost and short-run marginal costs.
c. short-run variable cost and short-run costs.
d. short-run fixed cost and short-run variable cost.
d
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An increase in the number of producers of gruel ________ the supply of gruel and shifts the supply curve of gruel ________
A) increases; rightward B) increases; leftward C) decreases; rightward D) decreases; leftward
Historically, which of the following has had the highest average annual rate of return?
a. corporate bonds b. money market mutual funds c. corporate stocks d. U.S. Treasury bonds
The term "scarcity" in economics can refer to the fact that:
A. even in the richest country some people go hungry. B. no country can produce enough products to satisfy everybody's economic wants. C. it is impossible to produce too much of any particular good or service in a market economy. D. economic wants are limited and resources are abused.
If the BLS counted persons that are on active military service in the totals for employment, the labor force, and the working-age population, this would
A) decrease the measured unemployment rate. B) decrease the measured labor force participation rate. C) decrease the number of persons in the labor force. D) decrease the number of persons in the working-age population.