Which of the following cost curves always declines continuously as output increases?
a. ATC
b. AVC
c. AFC
d. MC
e. TC
C
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Explain how the money market determines the equilibrium interest rate
What will be an ideal response?
The international trade effect states that
A) an increase in the price level will raise exports. B) an increase in the price level will lower net exports. C) an increase in the price level will raise net exports. D) an increase in the price level will lower imports.
In choosing between two products, a rational consumer will choose the product that gives her the:
A. least marginal utility per dollar. B. highest cost per additional unit of utility. C. lowest cost per additional unit of utility. D. greatest total utility regardless of cost.
Refer to the data. The national income is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $265.
B. $223.
C. $208.
D. $346.