Which of the following will become smaller and smaller as the firm expands output?
a. average total cost.
b. average fixed cost .
c. marginal cost.
d. total fixed cost.
b
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If you put a $20 bill in the pocket of your winter coat at the beginning of spring so that you will be surprised when you find it again next winter, you are using money as:
A. bank reserves. B. a medium of exchange. C. a store of value. D. a unit of account.
In the figure above, with the rent ceiling
A) there is a shortage of 3,000 units. B) there is a surplus of 3,000 units. C) there is a surplus of 2,000 units. D) there is a shortage of 1,000 units. E) the market is in equilibrium.
In Zealand, banks' desired reserve ratio is 20 percent and there is no currency drain. The money multiplier equals ________
A) 0.50 B) 0.20 C) 20.0 D) 5.0
Individuals rationally choosing career paths should weigh the preparation costs to the potential incomes generated within those careers
Indicate whether the statement is true or false