Refer to Scenario 3. The average variable cost of producing three units of output is:
A) $15.
B) $25.
C) $41.67 (approximate).
D) $75.
B
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When planned aggregate expenditure is larger than real GDP, actual inventories ________ planned inventories and real GDP ________
A) are more than; decreases B) are more than; increases C) are less than; increases D) are not related to; increases E) are less than; decreases
Programs that require people to pay into a common pool and are in turn eligible to draw on benefits under certain circumstances are called:
A. social insurance programs. B. social benefit programs. C. common insurance programs. D. equitable payment programs.
If the government regulates the price a natural monopolist can charge to be equal to the firm's average total cost, the firm has no incentive to reduce costs
a. True b. False Indicate whether the statement is true or false
A system of economic organization in which the ownership and control of productive capital assets rests with the state and in which resources are allocated through central planning and political decision making is called
What will be an ideal response?