Which of the following must be true if average total costs are declining?
a. Marginal cost is less than average total cost.
b. Marginal cost is less than average variable cost.
c. Marginal cost is greater than average total cost.
d. Marginal cost equals average total cost.
A
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In the U.S., which of the following government programs assist workers find jobs when they lose their jobs due to trade?
A. Trade Adjustment Assistance program B. Social Security C. workers' compensation D. Obamacare
Which of the following is a likely macroeconomic consequence of inflation?
A. Antitrust issues. B. Speculation. C. Focus on long-term planning. D. None of the other choices.
The crowding model of occupational discrimination suggests that occupational segregation results in:
A. A lower domestic output than would otherwise be the case B. Higher levels of total employment than would otherwise be the case C. Higher interest rates in the private sector than would otherwise be the case D. A higher rate of inflation than would otherwise be the case
If the United States negotiates a voluntary export restraint with international sugar producing nations, then
A) U.S. sugar buyers pay a lower price for sugar. B) U.S. sugar producers produce a smaller quantity. C) imports of sugar increase. D) the U.S. government collects less revenue than if it imposed a tariff on sugar. E) the foreign governments collect more revenue than if a tariff is imposed on sugar.