If you wanted to produce at an output of 80, in the long run you would choose a plant whose size is represented by
A. ATC1.
B. ATC2.
C. ATC3.
D. ATC4.
B. ATC2.
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Mike owns a car worth $20,000, and that is his only wealth. There is a 10 percent chance that Mike will have an accident within a year. If he does have an accident, his car is worthless. What is Mike's expected wealth?
What will be an ideal response?
According to the graph shown, if the economy is in autarky and decides to open trade with a tariff, the impact on domestic supply is they will:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. increase output from 250 to 500.
B. decrease output from 815 to 500.
C. increase output from 500 to 815.
D. decrease output from 1500 to 1150.
Disinflation and deflation mean a decrease in the average price level
a. True b. False Indicate whether the statement is true or false
Suppose that a federal election is coming soon and the government has been running persistent large budget deficits. Constitutional economists would most likely urge ___________________ in order to eliminate future budget deficits
A) voters to vote for liberal candidates B) voters to vote for conservative candidates C) Congress to pass a law constraining them to spend no more than what they are receiving in tax revenues D) Congress to remove all constraints on spending and taxes.