The firm's short-run marginal-cost curve is increasing when:
A. Marginal product is increasing
B. Marginal product is decreasing
C. Total fixed cost is increasing
D. Average fixed cost is decreasing
B. Marginal product is decreasing
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Free riding is primarily a characteristic of which type of good?
A) a pure private good B) a pure public good C) a club good D) a common pool resource
Variance is a measure of ________ and the higher the variance, ________
A) expected profit; the greater the profit B) risk; the greater the risk C) standard deviation; greater the standard deviation D) risk; the lower the risk
The higher the interest rates
a. the more value individuals place on future dollars b. the more value individuals place on current dollars c. individuals do not place any importance on either current or future dollars d. does not affect the investment strategy
The ratio of debt to GDP is much higher in the United States than in most other industrialized nations
Indicate whether the statement is true or false