We say that a particular life saving method is efficient
a. if it requires very few resources
b. if it requires many resources
c. if total expenditures on that method are low
d. if the cost per life year saved is very high
e. if the cost per life year saved is very low
E
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A firm produces 2,000 high-quality bicycles per year. At this output, AVC $300 and the firm’s fixed costs are $200,000. The firm’s total costs are
A. $400. B. $600,000. C. $800,000. D. $500,000.
Most economists believe that
a. speculation on financial markets reduces their efficiency and should either be abolished or heavily regulated. b. speculation on financial markets does not need to be regulated because it has been largely eliminated by regulations on program trading. c. speculation socially benefits financial markets but harms nonfinancial markets. d. speculation helps both financial and nonfinancial markets function more efficiently.
The demand curve displays the wishes of _____________.
Fill in the blank(s) with the appropriate word(s).
Currently, total government expenditures in the United States is approximately:
a. 50 percent of GDP. b. 75 percent of GDP. c. 40 percent of GDP. d. 80 of GDP.