The first unit of an information product is produced at a high fixed cost. Producing additional units entails relatively
A) high average variable cost.
B) low marginal cost.
C) low external cost.
D) high social cost.
Answer: B
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The net international investment position of the United States measures
A) U.S. holdings of foreign assets minus foreign holdings of U.S. assets. B) foreign holdings of U.S. assets. C) U.S. holdings of foreign assets. D) U.S. holdings of foreign assets plus foreign holdings of U.S. assets.
If the total revenue collected by the federal government in a particular year is $1.2 billion and the total amount spent by the government during the same year is $3.8 billion, what is the budget deficit?
A) $1.6 billion B) $2.6 billion C) $2.2 billion D) $5 billion
The relationship depicted in the above figure is
A) a negative linear relationship B) a positive linear relationship C) a positive becoming less steep relationship D) a positive becoming steeper relationship
Arbitrageur is someone who buys or sells foreign exchange in hopes of profiting from fluctuations in the exchange rate over time
Indicate whether the statement is true or false