Average fixed costs in the short run:
A. increase as the quantity produced increases.
B. decrease as the quantity produced increases.
C. first decrease, then increase eventually as the quantity produced increases.
D. first increase, then decrease eventually as the quantity produced increases.
Answer: B
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Regarding economic growth and income levels, which of the following is true?
a. Poor countries are unable to ignite the growth process unless they receive financial aid from richer countries. b. Countries that lack an abundance of natural resources have been unable to grow and achieve high income levels. c. Countries with a large population relative to their land area are destined to remain poor. d. Countries that fail to adopt institutions and policies supportive of trade, entrepreneurial discovery, and private investment will remain poor in the foreseeable future.
The biggest breakup of a trust under the Sherman Act was the breakup of the ___________.
Fill in the blank(s) with the appropriate word(s).
For an actor whose natural talent is almost impossible to duplicate
A. part of his earnings consists of economic rents. B. none of his earnings consist of economic rents since rent applies only to land. C. all of his earnings consist of economic rents. D. all of his earnings consist of interest payments.
Your college bookstore buys a used textbook for $25 and sells it to you for $125. What happens to GDP?
A) It increases by $25. B) It increases by $100. C) It increases by $125. D) It increases by $150.