Fuel and shipping costs are examples of __________ costs.
Fill in the blank(s) with the appropriate word(s).
variable
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Any policy that seeks to influence the level of aggregate demand is called
A) productivity policy. B) stabilization policy. C) aggregate policy. D) employment policy.
For a competitive firm, the value of output ___________ and the marginal product of labor ___________ with each additional worker hired.
A. stays constant; decreases B. increases; decreases C. increases; increases D. decreases; stays constant
An economic slowdown in Europe is likely to lead to a(n):
a. decrease in U.S. exports and U.S. aggregate demand. b. increase in U.S. exports and U.S. aggregate demand. c. decrease in U.S. imports and U.S. aggregate demand. d. increase in U.S. imports and U.S. aggregate demand.
What happened to the so-called Asian tigers in the 1960s and 1970s?
a. They underwent a period in which their economies turned into mild communism. b. The literacy rates of these countries declined in this time period (that is, a smaller percentage of the people could read). c. They all became part of the First World. d. They became the most technologically advanced countries in the world. e. They underwent the process of opening their economies and experienced rapid economic growth.