If a firm shuts down, it
A) will suffer a loss equal to its fixed costs.
B) will produce nothing but must pay its variable costs.
C) will produce nothing but must pay its fixed and variable costs.
D) will earn enough revenue to cover its variable costs but not all of its fixed costs.
Answer: A
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What is Y - S equal to?
A) I B) C - T C) I + G D) C
The U.S. rate of productivity growth in the 1970s and 1980s was _____ the rate of productivity growth in the 1960s.
A. twice B. one and a half times C. equal to D. one third
Approximately how much of the world's output does China produce?
A. approximately 0 percent. B. approximately 11 percent. C. approximately 9 percent. D. approximately 1.5 percent.
If the price of a textbook rises and then students purchase fewer textbooks, an economic model can show a cause-and-effect relationship only if which of the following conditions holds:
A. students' incomes fall. B. tuition decreases. C. the number of students increases. D. everything else is constant.