The number of people that are fired in a month is
A) a stock.
B) a flow.
C) both a stock and a flow.
D) neither a stock nor a flow.
B
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When tastes over current and future consumption are homothetic, the interest rate elasticity of savings supply is positive.
Answer the following statement true (T) or false (F)
Devaluation of a currency is
a. reduction in its domestic value due to inflation b. reduction in its international value due to changes in supply and demand c. reduction in its international value due to government decree d. reduction in the value of other currencies e. all of the above
Which of the following demonstrates marginal thinking? a. Deciding to never eat meat
b. Deciding to spend one more hour studying economics tonight because you think the improvement on your next text will be large enough to make it worthwhile to you. c. Deciding to go to a Sociology class that you usually skip because there is a guest lecturer you are really interested in hearing that day. d. Both b. and c. demonstrate marginal thinking.
If the long-run average total cost curve for a firm is horizontal in the relevant range of production, then it indicates that there:
A. Is a minimum efficient scale B. Are constant returns to scale C. Are diseconomies of scale D. Are economies of scale