Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. The vertical distance AB is Outdoor Equipment's
A. total cost.
B. average fixed cost.
C. marginal cost.
D. total fixed cost.
Answer: B
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A country has a total of 300 million people over the age of 16 who are not in active military or institutionalized. Of those, 200 million have jobs and 20 million are looking for jobs. The unemployment rate is:
A) 2.8% B) 0.0% C) 9.1% D) 2.2%
The law of supply states that the quantity supplied of a good and
a. the price of a key input are inversely related b. its price are inversely related c. the price of a key input are positively related d. its price are positively related e. the price of an alternate good are positively related
Potential output is the
a. maximum rate of output that can ever be achieved. b. highest rate of output that has ever been achieved in the past. c. maximum sustainable output level consistent with the economy's resource base and current institutions. d. the rate of output present when the general level of prices is unstable.
The table below represents five points on the production possibility frontier for the small country of Bistro, which produces only crackers (measured in thousands of boxes) and cheese (measured in thousands of pounds): A B C D E Crackers 40 30
20 10 0 Cheese 0 5 10 15 20 Does the production possibility frontier demonstrate the law of increasing opportunity cost? How can you tell?