For a trucking company, all of the following are examples of fixed costs, except
a. Tax accountant fees
b. Package designing fees
c. Insurance
d. Gasoline costs
d
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Refer to Table 8-8. Suppose that a simple economy produces only four goods and services: sweaters, CDs, sugar, and soft drinks
Assume one half of the sugar is used in making the soft drinks and the other half of the sugar is purchased by households. Calculate nominal GDP for this simple economy.
An unannounced increase in the money supply will increase both prices and real GDP under
A) neither rational nor adaptive expectations. B) rational but not adaptive expectations. C) adaptive but not rational expectations. D) both adaptive and rational expectations.
In making the "Malthusian Prediction," Reverend Malthus assumed that:
a. technological advance would be rapid; the supply of capital was unlimited; birth control techniques would limit population growth. b. there would be little if any technological advance; the supply of capital was fixed; birth control techniques would limit population growth. c. the supply of land was fixed in quantity; there would be little if any technological advance; the sexual desires of humans would work to increase production. d. the supply of land was fixed in quantity; technological advances would be rapid; the sexual desire of humans would lead to rapid population growth.
Movement along the curve from point A to point B represents a change in ______ in response to price level changes.
a. wages
b. output
c. input
d. rents