Which of the following is an example of a carrying cost of holding an inventory?
A) the cost of the paperwork necessary to pay for each order
B) the delivery charges for an order
C) the managerial time spent creating an order for inventory
D) the costs of securing the inventory
D) the costs of securing the inventory
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In the above figure, which of the following statements is FALSE?
A) The total fixed cost curve is curve C. B) Total variable cost and total cost both increase as output increases. C) Marginal cost is equal to the slope of curve A. D) The vertical gap between curves A and B is equal to average fixed cost.
In 2003, the top 20 percent, or wealthiest fifth, of U.S. households earned _____.
(A) About the same as the bottom four fifths combined. (B) Less than the bottom four fifths combined. (C) More than the bottom four fifths combined. (D) Less than the bottom three fifths combined.
A policy of fiscal austerity could have difficulty lowering the debt-to-GDP ratio because it might:
A. lower both GDP growth and government revenue. B. lower potential output and government spending. C. raise potential output and government spending. D. raise both GDP and government revenue.
Decreasing government spending ______ the price level and ______ equilibrium real GDP.
a. decreases; increases b. increases; decreases c. increases; increases d. decreases; decreases