Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle?s budget is AC. Given his current monthly income he does not have enough income to purchase the quantities of the two goods at point
A. A.
B. B.
C. E.
D. D.
Answer: D
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A firm sells 1000 units per week. It charges $15 per unit, the average variable costs are $10, and the average costs are $25 . At what price does the firm consider shutting-down in the long run?
a. $25 b. $0 c. $15 d. $10
The ways to address agency costs include all EXCEPT
a. running background checks on prospective employees b. requiring employees to punch time clocks c. spot checks of the quality of employee's work d. providing better coffee machines in the lunch room
Which of the following events will most likely cause an increase in both the price level and real gross domestic product?
(a) The prime rate increases (b) Exports increase (c) Income taxes increase (d) Crude oil prices decrease (e) Inflationary expectations decrease
The real exchange rate is defined as:
A. the nominal exchange rate plus the rate of inflation. B. the exchange rate that would exist if nominal rates were not fixed by governments. C. the spot exchange rate. D. the cost of a basket of goods and services in one country compared to the cost of the same basket in another country.