Which of the following is a fixed cost?
A) payment to hire a security worker to guard the gate to the factory around the clock
B) wages to hire assembly line workers
C) payments to an electric utility
D) costs of raw materials
Answer: A
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To complement actions by the Fed to reduce inflation, Congress and the President can cut spending and/or raise taxes
Indicate whether the statement is true or false
Which of the following is NOT a discount bond?
A) a U.S. savings bond B) a U.S. Treasury bill C) a U.S. Treasury note D) a zero-coupon bond
According to the classical model, in the labor market
a. perfect information about the market price by market participants is required. b. the labor market is always in equilibrium. c. prices and wages are perfectly flexible. d. both suppliers and purchasers of labor must know the relevant trading prices. e. All of the above.
Which of the following will result in an outward shift of the production possibilities curve [PPC]?
a. A decrease in the quantity of resources b. An improvement in the quality of resources c. A fall in education standards d. An unsustainable growth in population e. An increase in unemployment rate