Refer to Scenario 3. The average total cost of 5 units of output is:
A) $8.
B) $10.
C) $29.
D) $39.
D
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Johnny has been working a lot of overtime during the most current economic boom. As a result, his income is high enough for him to move from the 10 percent tax bracket to the 15 percent tax bracket. So, Johnny pays a higher percentage of a higher income to the government this year. The increased amount paid to the government is an example of:
A. discretionary fiscal policy slowing the economy. B. automatic stabilizers slowing the economy. C. discretionary fiscal policy encouraging economic activity. D. automatic stabilizers encouraging economic activity.
The Sherman Antitrust Act
a. was passed to encourage judicial leniency in the review of cooperative agreements. b. was concerned with self-interest dominated Nash equilibriums in prisoners' dilemma games. c. enhanced the ability to enforce cartel agreements. d. restricted the ability of competitors to engage in cooperative agreements.
In the open-economy macroeconomic model, net capital outflow rises if
a. either the exchange rate rises or the real interest rate falls. b. either the exchange rate falls or the real interest rate rises. c. the real interest rate rises. Net capital outflow does not depend on the exchange rate. d. the real interest rate falls. Net capital outflow does not depend on the exchange rate.
Over the past few decades, the US economy has switched from a primarily manufacturing economy to a service economy. Many individuals working in manufacturing position lost their jobs, and many new jobs open up in service. For those who lost jobs in manufacturing this is an example of:
What will be an ideal response?