Which of the following statements concerning the relationships among the firm's total cost functions is false?
A) TC = TFC + TVC
B) TVC = TFC - TC
C) TFC = TC - TVC
D) TC = TFC when output = 0.
B
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Included in the official U.S. money supply are
a. U.S. government bonds. b. corporate stocks. c. check able deposits. d. All of these.
The economic way of thinking stresses that
a. changes in personal costs and benefits generally do not influence human behavior. b. incentives matter--when an option becomes less costly, people will be more likely to choose it. c. if one individual gains from an economic activity, then someone else must lose. d. goods provided by government do not consume valuable scarce resources since government activity is not part of the market economy.
The real balance effect works through a change in the value of
A) monetary assets in response to changes in the unemployment rate. B) nonmonetary assets in response to changes in the unemployment rate. C) monetary assets in response to changes in the price level. D) nonmonetary assets in response to changes in the price level.
Very high debt burdens can result in
A) fine tuning. B) automatic stabilizer. C) the structural deficit. D) tax smoothing. E) debt repudiation.