Two of the implications of large U.S. trade deficits for the United States are:
A. decreased current consumption and decreased indebtedness to foreigners.
B. reduced budget deficits and decreased indebtedness to foreigners.
C. reduced current consumption and higher saving.
D. increased current consumption and increased indebtedness to foreigners.
D. increased current consumption and increased indebtedness to foreigners.
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Which of the following is not a determinant of a good's price elasticity of demand?
A) the slope of the demand curve B) whether the good is a luxury or a necessity C) the share of the good in the consumer's total budget D) the passage of time
A high inflation rate will
A) harm those who have saved while helping those who have borrowed. B) harm those who have borrowed while helping those who have saved. C) harm those who have saved and those who have borrowed. D) benefit those who have saved and those who have borrowed.
Consider the following short-run production function: q = 5L2 - 1/3 L3. At what level of L do diminishing marginal returns begin? At what level of L do diminishing returns begin?
What will be an ideal response?
Which statement about the total variable cost curve is true?
a. It begins at the origin and increases before decreasing again. b. The total variable cost curve is the same at all levels of output. c. The total variable cost curve is increasing but at a decreasing rate. d. It begins at the origin and is always increasing. e. There is no such thing as a total variable cost curve.