Ozone depletion refers to a thinning of the stratosphere, which is the atmospheric layer that is positioned
a. between 1 and 3 miles above the earth’s surface
b. between 3 and 6 miles above the earth’s surface
c. between 7 and 25 miles above the earth’s surface
d. none of the above
c. between 7 and 25 miles above the earth’s surface
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The US had a surplus on its current account in 2009
a. True b. False
When a firm is operating at an efficient scale,
a. average variable cost is minimized. b. average fixed cost is minimized. c. average total cost is minimized. d. marginal cost is minimized.
Historically, the change in real GDP during recessions has been
a. mostly a change in investment spending. b. mostly a change in consumption spending. c. about equally divided between consumption and investment spending. d. sometimes mostly a change in consumption and sometimes mostly a change in investment.
The hiring rule for the perfect competitor in the labor market is to choose that amount of labor for which the wage rate is exactly equal to
A. marginal revenue from the sale of one more unit of output. B. MC. C. the cost of capital. D. the value of the marginal product of labor, VMPL.