Suppose that, when producing 10 units of output, a firm's AVC is $22, its AFC is $5, and its MC is $30. This firm's:
A. ATC is $35.
B. ATC is $57.
C. total cost is $270.
D. total cost is $30.
Answer: C
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Ceteris paribus, a decrease in the government's budget deficit will increase domestic investment and net foreign investment
Indicate whether the statement is true or false
Which of the following was a criterion to participate in the European Monetary Union?
A. The country's budget deficit must be less than 10 percent of the value of its gross domestic product (GDP). B. The gross government debt must be less than 100 percent of its GDP. C. The country's exchange rates must be maintained within the Exchange Rate Mechanism bands with no realignments during at least the previous ten years. D. The country's inflation rate must be less than or equal to 1.5 percentage points above the average inflation rate for the three lowest-inflation EU countries.
There are no fixed costs in the long run.
Answer the following statement true (T) or false (F)
An economy is not able to develop because of a lack of capital. Which of the following strategies would you suggest this economy pursue?
A. nationalize private enterprises because the government sector is not motivated by profit maximization B. lower interest rates C. impose quotas on how much capital can be imported from other countries to reduce dependency on foreign capital D. increase the political stability of the economy