At the low point of the average total cost curve, marginal costs and average total costs are equal
Indicate whether the statement is true or false
True
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What kind of investment instrument is an IRA, and when is the income earned from an IRA taxed?
What will be an ideal response?
Which of the following does not contribute to increased worker productivity?
a. technological advances b. increased capital formation c. improvements in workers' skills d. increased labor supply
Which of the following is the correct way to describe equilibrium in a market? a. At equilibrium, demand equals supply
b. At equilibrium, quantity demanded equals quantity supplied. c. At equilibrium, market forces no longer apply. d. At equilibrium, the "fairest" price for output is achieved.
Which of the following might you believe if you say that "it's no one's fault" that the United States runs a trade deficit?
A. The United States is a successful rich economy that can afford a lot of imports. B. Other countries have used nontariff barriers to keep out U.S. exports. C. U.S. manufacturers are incompetent and unable to compete with foreign producers. D. American consumers borrow too much to buy imported goods like cars and electronics.