Logrolling is the exchange of votes to gain support for legislation
Indicate whether the statement is true or false
True
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Whenever average cost exceeds marginal cost,
a. average cost is rising. b. average cost is falling. c. marginal cost is rising. d. marginal cost is falling.
The marginal cost of producing a good to society is the:
A. vertical sum of the demand curve and the marginal cost of polluting. B. horizontal sum of the supply curve and the marginal cost of polluting. C. horizontal sum of the demand curve and the marginal cost of polluting. D. vertical sum of the supply curve and the marginal cost of polluting.
In the original Austin Powers, Dr. Evil is cryogenically frozen for thirty years (from the late 1960s to the late 1990s). Upon his return he hatches a plan to extort one million dollars from various world governments. His henchmen are unimpressed. What type(s) of inflation have made Dr. Evil's proposed blackmail amount seem too small?
A. demand-pull inflation B. both cost-push and demand-pull inflation C. cost-push inflation D. both cost-price and price-pull inflation
Suppose the government of South Island fixes the exchange rate of its currency, the Islandia, in terms of the U.S. dollar. Initially the exchange rate is set at $1 per Islandia. Later the government changes the exchange rate to $2 per Islandia. This is an example of a(n):
A. appreciation B. devaluation C. depreciation D. revaluation