Because marginal cost is always ________ in the short run, total variable cost always ________ when output decreases.
A. negative; increases
B. negative; decreases
C. positive; increases
D. positive; decreases
Answer: D
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A difference between a quota and a tariff is that
A) a tariff generates a higher price than does a quota. B) a tariff generates a greater reduction in exports than does a quota. C) a quota increases profits of domestic producers more than does a tariff. D) the government collects revenue from a tariff but does not collect revenue from a quota.
Describe the state of affairs in the developing world concerning social overhead capital?
What will be an ideal response?
______________ refers to the fraction of your medical bill that you, rather than your insurer, must cover.
A. Co-insurance B. Co-pay C. Deductible D. None of the above is correct.
When consumer spending and consumption decrease, consumer confidence tends to
A. fall. B. rise. C. remain the same. D. be unpredictable.