Short-run costs that depend on the level of output are
A. total fixed cost only.
B. total costs only.
C. total variable costs only.
D. both total variable costs and total costs.
Answer: D
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Which of the following futures contracts is available on the various commodity exchanges in the United States?
A) Treasury bond futures B) Investment-grade bonds C) Over-the-counter stocks D) U.S. savings bonds
According to the circular flow model, expenditures by one person translate:
A. directly into income for someone else. B. indirectly into the value of that person's time. C. directly into his or her income. D. indirectly into the household's budget.
The study by economists Cox and Alm found that the 2006 pre-tax income of the richest fifth of U.S. households is
a. 5 times the pre-tax income of the poorest fifth. b. 10 times the pre-tax income of the poorest fifth. c. 15 times the pre-tax income of the poorest fifth. d. 20 times the pre-tax income of the poorest fifth.
Which of the following is not an example of human capital for a college economics professor?
a. years of experience b. a doctorate in economics c. chalk d. what the professor has learned from seminar courses on effective teaching methods