Figure 5.4 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 50, the total variable cost is:
A. $1,200.
B. $1,500.
C. $2,100.
D. $2,800.
Answer: B
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To operate efficiently, an economy generally "needs" ________ unemployment
A) structural B) cyclical C) seasonal D) frictional
Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess ________ of money which will cause the interest rate to fall
A) right; supply B) right; demand C) left; supply D) left; demand
Those who generally have low willingness to take on risk are said to be:
A. risk-seekers. B. risk-averse. C. low-risk players. D. high-compensation players.
Assume that the future economy follows past trends. If the nominal GDP in 2025 is $30,000 billion and the base year is 2020, which of the following would most likely be the real GDP for 2025?
a. $27,000 billion b. $30,000 billion c. $32,000 billion d. $34,000 billion