In the short run, all costs are variable
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Refer to Figure 7-2. With the tariff in place, the United States produces
A) 18 million pounds of coffee. B) 20 million pounds of coffee. C) 26 million pounds of coffee. D) 38 million pounds of coffee.
The highest valued alternative that must be given up to engage in an activity is the definition of
A) marginal cost. B) marginal benefit. C) opportunity cost. D) economic equity.
Consider the market for air travel. A simultaneous increase in the price of fuel and another terrorist attack on United States soil would cause the equilibrium quantity of air travel to go down, but have an uncertain effect on equilibrium price
Indicate whether the statement is true or false
If there is 2 percent frictional unemployment, 5 percent structural unemployment, and -2 percent cyclical unemployment, then the natural rate of unemployment equals:
A. 9%. B. 7%. C. 2%. D. 5%.