The variable cost to the producer is
A. the area under the supply curve from the origin to the quantity produced.
B. the area under the demand curve from the origin to the quantity purchased.
C. the area under the demand curve but above the price line from the origin to the quantity purchased.
D. the area above the supply curve but below the price line from the origin to the quantity purchased.
Answer: A
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If a firm wants to sell bonds in Tokyo to denominated in U.S. dollars
A) they would be selling a form of Eurobonds. B) they would have to sell the bonds in dollars first. C) the bonds could only be sold if the firm opened a Eurocurrency account first. D) their profits would have to be converted to yen.
An important function of international institutions during times of crisis is to
A) make goods nonrival. B) make goods nonexcludable. C) prevent free riding. D) prevent nondiscrimination. E) encourage free riding.
If Bill expects to earn a higher income next month, he may choose to a. save more now and spend less of his current income on goods and services. b. save less now and spend more of his current income on goods and services. c. decrease his current demand for goods and services
d. move along his current demand curve for goods and services.
The United States Congress of Industrial Organizations was born as a result of all of the following except
a. minimum wage laws that brought increased competition to unionized workers b. the industrial growth brought about by technological change c. craft orientation being an impediment to further union growth d. the need for broader representation of workers with very different skills and occupations but belonging to a common industry e. the failure of craft unions to restructure its orientation according to the needs of industrial workers