A firm's total variable cost will depend on:
A. the level of output.
B. the prices of variable resources.
C. the production techniques that are used.
D. all of these.
Answer: D
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"Hicks' Third Law of Demand" states that "most" goods must be:
a. gross substitutes. b. gross complements. c. net substitutes. d. net complements.
Direct taxes are levied directly on people or corporations
a. True b. False Indicate whether the statement is true or false
The short-run effects of a favorable supply shock will include
a. an increase in the general level of prices and a decrease in real output. b. an increase in the general level of prices and an increase in real output. c. a decrease in the general level of prices and a decrease in real output. d. a decrease in the general level of prices and an increase in real output.
A bond is a
a. financial intermediary. b. certificate of indebtedness. c. certificate of partial ownership in an enterprise. d. None of the above is correct.