Fixed costs are those costs that are
A. unchanging through time.
B. independent of the amount of output a firm produces in the short run.
C. zero if the firm produces no output in the short run.
D. dependent of the amount of output a firm produces in the short run.
Answer: B
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Jake just bought a new hockey stick. When he was leaving the shop, he thought that he such a great deal and would have paid $50 more dollars for the stick. Jake received
A) producer surplus. B) equilibrium. C) marginal cost. D) total surplus. E) consumer surplus.
With the followings is NOT one of the reasons why quantitative easing in and of itself will not necessarily be stimulative?
A) Most of the resulting increase in the monetary base just flows into holdings of excess reserves. B) Banks just add to their holdings of excess reserves instead of making loans. C) The asset purchase program involves only the purchase of short-term government securities. D) The asset purchase program involves only the purchase of long-term government securities.
If x is useful for predicting future GDP then
A) x is coincident. B) x is a lagging variable. C) x is countercyclical. D) x is a leading variable.
Which of the following would increase the amount of an inferior good that buyers would like to purchase?
a. an increase in buyers' incomes b. an increase in the price of a complement c. a decrease in the price of a substitute d. a decrease in buyers' incomes e. a decrease in its expected future price