The fixed cost curve:
A. is a constant, vertical line.
B. is steep when output levels are low, then flattens as output increases.
C. is flatter when output levels are low, then gets steeper as output increases.
D. is a constant, flat line.
Answer: D
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Which of the following varies directly with the interest rate?
A. the opportunity cost of holding money B. the asset demand for money C. the level of investment D. the transactions demand for money
Refer to the figure above. The loss in consumer surplus due to the imposition of the tax is given by the areas ________
A) JBIE and BIA B) EAG AND GHF C) CAE AND EAHF D) JBHF AND ABH
Refer to Figure 5-6. What does D1 represent?
A) the demand curve reflecting private benefits B) the demand curve reflecting social benefits C) the social welfare curve D) the positive externalities curve
The international trade effect explains that higher prices make domestic goods
a. more expensive, causing imports to rise and exports to fall b. more expensive, causing imports and exports to fall c. more expensive, causing imports to fall and exports to rise d. less expensive, causing imports and exports to fall e. less expensive, causing imports to fall and exports to rise