Total costs:
a. Decrease when quantity produced increases
b. Increase when quantity produced increases.
c. Sometime increase and sometime decrease when quantity produced increases.
d. Can sometimes be constant over a substantial range of output.
b
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A typical 50-year-old male earns: a. one-third more than a male in his early 20s
b. nearly twice the income of a male in his early 20s. c. one-third less than workers over 65. d. nearly twice the income of workers over 65.
Economists consider price discrimination to always be undesirable
a. True b. False Indicate whether the statement is true or false
Opponents of indexing fear that it will lead to a(n)
a. acceleration of inflation. b. abrupt reduction of the money supply. c. shortfall of tax revenues, and increased budget deficits. d. unfair wealth transfer to debtors.
Official unemployment rate statistics may
A. understate the amount of unemployment by excluding part-time workers in the calculations. B. overstate the amount of unemployment by including part-time workers in the calculations. C. overstate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment. D. understate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment.