The average total cost curves for Plant 1, ATC0, and Plant 2, ATC1, are shown in the figure above. Over what range of output is it efficient to operate Plant 2?
A) 0-20
B) 0-25
C) 20-25
D) greater than 25
D
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What is the "store of value" function of money?
a. A common measurement of the relative value of different goods and services. b. The ability of money to hold value over time c. The quality of money not to be hoarded because of its commodity value. d. The function of money to be widely accepted I exchange for goods and services.
Assume net exports are -$220, consumption is $5,000 . tax revenues are $1,000 . government purchases are $1,500, and 2003 GDP, calculated by the expenditure approach, is $8,000 . We can conclude that
a. private investment was $1,940 b. public investment was $310 c. private investment was $320 d. private investment was $1,720 e. public investment was $1,730
The cyclically adjusted budget deficit or surplus measures what the deficit or surplus would be if the economy was
A) in a recession. B) in an expansion. C) at potential GDP. D) at potential tax revenue.
Refer to the data. If the market price for this firm's product is $87, it will produce:
A. 9 units at an economic profit of zero.
B. 6 units at a loss of $90.
C. 9 units at an economic profit of $281.97.
D. 8 units at an economic profit of $130.72.