Real investment spending for the past 35 years is less volatile than real personal consumption
a. True
b. False
Indicate whether the statement is true or false
False
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You are about to open a business and must obtain a license from the city for $25,000. The license is transferable, but only $4,000 is refundable in the event the firm does not use the license.
a. What are your fixed costs? What are your sunk costs? b. Suppose the manager obtains a license but then decides against opening the business. If another firm offers the manager $3,000 for the license, should the manager accept the offer?
In the figure above, curve B is the ________ curve
A) average fixed cost B) average variable cost C) average total cost D) marginal cost
Refer to Figure 13.1. All else equal, an increase in transfer payments would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point C to point B.
Refer to Scenario 18.1. Which of the following is TRUE?
A) The factory will never agree to B, because that would leave them with much less profit than the fishermen. B) C will never occur because that would leave the fishermen with much less profit than the factory. C) If the factory refused to install a filter, the fishermen would refuse to install a treatment plant. D) The factory must install a filter, because they contaminate the water. E) The profits above indicate profit before any agreement is made, and profit varies enough to make a mutually acceptable agreement possible.