If a firm's average cost is currently $100, and the marginal cost is $95, then the average cost is currently falling
a. True
b. False
Indicate whether the statement is true or false
True
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Computation of GDP by the expenditures method would include the purchase of ________.
A. land by the U.S. Department of Interior B. government bonds by a commercial bank C. fertilizer by a farmer D. cement by a construction company
After reading Governor Bradford's account, which is the most accurate statement, given his experience?
a. He considered the problems in the colony to be rooted in the "sine and corruption" of selfishness. b. He agreed with Plato that goods held in a "commone wealth" would make the people "happy and flourishing." c. That assigning private plots of land "made all hands very industrious." d. That assigning private plots of land "for this communitie" caused "much confusion and discontent."
Which of the following statements is false?
a. The largest source of state and local governments tax revenue is sales and excise taxes. b. The largest source of federal government tax revenue is individual income taxes. c. A sales tax on food is a regressive tax. d. A proportional tax is equal to a fixed dollar amount.
The goal of Medicare is to
A) help the poor and indigent pay their hospital bills. B) prevent poverty in urban cities. C) subsidize medical expenses for the elderly. D) subsidize costs incurred by doctors.