Which of the following is a fixed cost for ACME manufacturing?
A) wages paid to labor
B) the annual fire and theft insurance premiums
C) the utility bill
D) raw material costs
E) the cost of shipping its product to market
B
You might also like to view...
A graph that shows the value of an economic variable for different groups in a population at a given time is called a
A) pie chart. B) cross-section graph. C) scatter diagram. D) time-series graph. E) fixed-time diagram.
A bank has deposits of $400, reserves of $50, and the desired reserve ratio is 7 percent. The bank's excess reserves are
A) $28. B) $50. C) $22. D) $0. E) $3.50
If insurance companies are able to gather more and better information on their customers, this will
A) help reduce the problem of adverse selection but do nothing to help with the problem of moral hazard. B) help reduce the problem of moral hazard but do nothing to help with the problem of adverse selection. C) help reduce the problems of adverse selection and moral hazard. D) do nothing to help with the problems of moral hazard and adverse selection.
Suppose that nominal GDP in year 1 is 200 and nominal GDP in year 2 is 242. Assume that inflation is ten percent per year. How fast did the economy grow between these two years?
A. 10 percent B. 12 percent C. 21 percent D. 42 percent