TC/q is
A. TVC.
B. MC.
C. ATC.
D. AVC.
Answer: C
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The policy of running deficits and only gradually increasing taxes later to service the debt is referred to as
A) tax-smoothing. B) Ricardian equivalence. C) generational accounting. D) crowding out.
Is it possible for inflation and recession to occur simultaneously in an economy?
A) No, because prices cannot rise during a recession. B) No, because recession is caused by too little demand and inflation by too much demand. C) Yes, and this has happened several times in the U.S. economy since World War II. D) Yes, but it has not occurred since the Great Depression in the 1930s. E) Yes, but while it is logically possible it has never actually happened in any major industrialized economy.
The difference between the interest a bank earns on loans and securities and the interest paid on deposits and debt divided by the total value of its assets is called
A) interest spread. B) net interest margin. C) return on assets. D) return on equity.
Over-fishing of common fishing grounds happens because fishing grounds are a common property and social and private incentive are the same
Indicate whether the statement is true or false