In the long run, total fixed cost:
a. falls.
b. rises.
c. is constant.
d. does not exist.
d
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The table above gives the CPI market basket for 2010 and 2011. Suppose that 2010 is the reference base period
a. What is the cost of the CPI market basket in 2010? b. What is the cost of the CPI market basket in 2011? c. What is the CPI for 2010? d. What is the CPI for 2011?
It is possible that class discrimination has become a stronger force in American society than racial discrimination
Indicate whether the statement is true or false
Which of the following reasons helps explain why the aggregate demand curve is downward sloping?
a. The real balances effect or wealth effect: Consumers spend more on goods and services when the price level falls because lower prices increase consumer purchasing power. b. The producer-push effect: At less than full employment, increases in quantity demanded will raise price, and thus will motivate sellers to produce more. c. The hidden inflation effect: As the price level rises, consumers fail to recognize that prices are higher, and consequently they fail to reduce expenditures on goods and services. d. None of the above.
Absolute advantage is the ability of a country to produce a good with ________ than another country
a. a lower opportunity cost b. a higher opportunity cost c. fewer resources d. more resources