Use the data in the table above and suppose that labor is the only variable factor of production. When 122 dozen donuts are produced at Decent Donuts, the AVC curve
A) has a negative slope.
B) has a positive slope.
C) is at its minimum point.
D) is at its maximum point.
B
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The theory that government borrowing may function like an increase in taxes, that is, reducing current consumption and business expenditures, was formulated by
A) John Maynard Keynes B) Jean Baptiste Say. C) David Ricardo. D) Adam Smith.
A Gini coefficient of zero indicates:
A. there is no income being earned. B. Computed correctly the Gini coefficient only has values greater than zero. C. perfect inequality. D. perfect equality.
Which of the following is not a problem for less-developed countries?
a. political stability b. shortages of unskilled labor c. high GDP per capita d. low levels of investment in capital goods e. adequate infrastructure
Inheritance taxes tend to increase income inequality in the long run
a. True b. False Indicate whether the statement is true or false