Throughout U.S. history labor and physical capital have been
(a) input substitutes and complements.
(b) output substitutes and complements.
(c) product displacements.
(d) mixed outputs.
(a)
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Assume at the firm's profit-maximizing level of output P = AVC. In this case, the firm will be:
A) earning a positive economic profit. B) earning economic profit = 0. C) incurring an economic loss. D) breaking even.
Which of the following is not a practice of Japanese physicians
a. Performing a unusually large number of surgeries. b. Seeing a large number of patients daily. c. Dispensing medicine to their patients. d. Accepting gifts of appreciation from their patients for special service. e. Discharging patients from the hospital after relative short average stays.
The entire national debt is owed to U.S. citizens
a. True b. False Indicate whether the statement is true or false
The Consumer Price Index (CPI)
a. measures the prices of all goods produced in the economy b. includes prices of raw materials c. is found by averaging the prices of all goods consumed in the economy d. includes only the prices of domestically produced consumer goods e. includes the prices of some used consumer goods