If a firm with total revenue of $900,000 shuts down, we may conclude that its variable costs are _______.
Fill in the blank(s) with the appropriate word(s).
more than $900,000
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To the extent that the value of money is less predictable, it becomes
A) more acceptable as a store of value. B) less acceptable as a medium of exchange. C) more acceptable as a standard of deferred payment. D) more acceptable as a unit of account.
Which of the following statements is true?
A) Labor markets in the United States are frictionless. B) The market wage rate is always below the equilibrium wage rate in a frictionless labor market. C) There is always some unemployment in a frictionless labor market. D) Both employees and employers have complete information about each other in a frictionless labor market.
Options are contracts that give the purchasers the
A) option to buy or sell an underlying asset. B) obligation to buy or sell an underlying asset. C) right to hold an underlying asset. D) right to switch payment streams.
Due to federal funding rules, average per pupil expenditures varied across states by no more than $3,000
Indicate whether the statement is true or false