In the short run, average variable cost equals:
A. average total cost minus average fixed cost.
B. total cost minus total fixed cost.
C. total cost divided by output.
D. output divided by total cost.
Answer: A
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The child-care credit goes
A. directly to child-care centers. B. to all households spending money on child, and elder care so that they may work. C. directly to the states. D. directly to children under 6.
National defense is an example of an externality.
Answer the following statement true (T) or false (F)
Refer to the information provided in Table 25.3 below to answer the question(s) that follow.Table 25.3
Refer to Table 25.3. People's Bank excess reserves are
A. $100,000. B. $200,000. C. $300,000. D. $400,000.
Under perfect competition, no matter how much output is produced, the total revenue curve is:
a. a positively-sloped line. b. a negatively-sloped line. c. a horizontal straight line. d. a U-shaped curve. e. a hill-shaped curve.