Privatization refers to the process of hiring private management consultancy firms to manage state-owned enterprises.
a. true
b. false
Answer: b. false
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If marginal cost is less than average variable cost and output increases, average total cost ________ and average variable cost ________
A) increases; increases B) decreases; decreases C) decreases; increases D) increases; decreases
In 1789 the percentage of the average American's income that went to pay taxes was about
a. 5%. Today it is about 50%. b. 5%. Today it is about 25%. c. 50%. Today it is about 33%. d. 25%. Today it is about 33%.
Refer to the information provided in Figure 5.4 below to answer the question(s) that follow.
Figure 5.4Refer to Figure 5.4. Along the given demand curve, which of the following is true?
A. Demand is more elastic along the segment CF than the segment AC. B. Demand is more elastic along the segment AC than the segment CF. C. Since the demand curve is linear, the price elasticity of demand between each of the points is the same. D. All of the above are true.
Refer to the information provided in Figure 12.1 below to answer the question(s) that follow. 
Figure 12.1 Refer to Figure 12.1. This firm is currently at Point B on the ATC curve. If this firm moves toward Point A, this will make the
A. distribution of outcome more equitable. B. economy more efficient. C. economy less stable. D. economy more stable.