Policy makers have adequate information to know what appropriate monetary policies to adopt
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Variable Cost of Production. If the firm actually has $20 in fixed costs, the average cost of the second unit of output is
The following questions refer to the following table which shows a firm's variable costs of production.
a. $20 per unit.
b. $25 per unit.
c. $30 per unit.
d. $35 per unit.
In order to provide alternatives to drug-crop production, the Andean Trade Preference Act (ATPA) was created, providing Bolivia, Colombia, Ecuador, and Peru tariff free access to U.S. markets for many goods
Indicate whether the statement is true or false
If the demand for a product is price inelastic,
a. producers' revenues will increase if supply increases b. producers' revenues will increase if supply decreases c. a small change in price will cause a large shift in the demand curve d. a large change in price will cause a small shift in the demand curve e. a small change in price will cause a small shift in the demand curve
People can be excluded from consuming public goods
Indicate whether the statement is true or false