If controlling the level of military expenditures is the most important goal, the most appropriate type of procurement contract would be _____
a. fixed fee
b. cost plus fixed fee
c. cost plus percentage fee
d. cost plus incentive fee
a
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Assume someone organizes all farms in the nation into a monopoly. What is the monopoly's marginal cost curve?
A) It is a horizontal line at the competitive industry's price. B) It is a vertical line at the formerly competitive industry's quantity. C) It is a vertical line at the monopoly's chosen output level. D) It is the formerly competitive industry's supply curve. E) It is the same as the formally competitive industry's average total cost curve.
The supply of loanable funds comes from anyone who has saved money and wants to lend it out
a. True b. False Indicate whether the statement is true or false
Which of the following is included in the consumption component of U.S. GDP?
a. purchases of staplers, paper clips, and pens by U.S. business firms b. purchases of natural gas by U.S. households c. purchases of newly constructed homes by U.S. households d. All of the above are correct.
Which of the following statements is not correct?
A. Economic analysis can be used to explain how both individuals and societies make decisions. B. In large measure, economics is the study of how people make choices. C. If poverty were eliminated, there would be no reason to study economics. D. Economics is a behavioral science.