If the average total cost is increasing over a given output range, the average total cost must be smaller than the marginal cost.
Answer the following statement true (T) or false (F)
True
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In comparing the traditional way of structuring mortgages and the newer structure of providing mortgages that securitized them and insured those securities with credit-default swaps, it is clear that the ________ structure allowed more people to afford homes and that the ________ structure was safer to the health of the overall economy.
A. traditional; newer B. newer; newer C. newer; traditional D. traditional; traditional
What is the present value of $500 promised four years from now at 5% annual interest?
A. $520.00 B. $400.00 C. $411.35 D. $607.75
The opportunity cost of something is the gain you receive as a result of your sacrifice.
Answer the following statement true (T) or false (F)
The aggregate demand curve shows that, ceteris paribus, at ________ price levels total quantity demanded is ________.
A. lower; higher B. positive; negative C. lower; lower D. higher; higher