The short-run average cost curve shows the lowest possible average cost corresponding to each output level, assuming that all inputs are variable
a. True
b. False
Indicate whether the statement is true or false
False
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Generally, most economists feel that a sales tax is:
a. regressive. b. proportional. c. progressive. d. fair.
In the U.S. balance of payments, purchases of foreign assets by U.S. residents are tabulated as a:
a. unilateral transfer. b. capital outflow. c. current account outflow. d. capital inflow.
Which of the following is a driving force underlying economic growth?
a. trade restrictions that protect domestic businesses from competition with foreign producers b. regulations that require businesses to obtain permission from the government before starting a new business c. tax increases that expand the revenues of the government d. entrepreneurial discovery and production of improved products
Segmentation involves classifying customers based on their importance. Which tools are used to classify customers?
a. ABC classification (Pareto's Law) b. Customer profitability analysis c. Balanced investment strategy d. Customer loyalty program e. None of the above f. Only A and B