Profit per unit is the difference between
A) average revenue and average total cost.
B) marginal revenue and marginal cost.
C) total revenue and total cost.
D) average revenue and marginal cost.
A
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Classical economists thought that
A. flexible wages and prices were the principal causes of recessions. B. the Great Depression confirmed their view of the business cycle. C. government policies and spending were needed to keep the economy at full employment. D. ?price, wage, and interest rate flexibility can quickly cure any tendencies for a recession.
When economists say that an activity meets the criterion for economic efficiency, they mean
a. a majority of citizens favor the activity. b. the benefits that result from the activity exceed the costs. c. the number of people who gain from the activity exceeds the number on whom costs are imposed. d. the costs that result from the activity exceed the benefits.
When a bank accepts a checkable deposit from a customer, its deposits will increase and its excess reserves will
A. increase by less than the deposits. B. increase by the same amount as deposits. C. decrease. D. increase by more than the deposits.
A measure of the value of a specified collection of goods and services in a given year as compared to the value of a highly similar collection of goods and services in a reference year is called a......
What will be an ideal response?