Use the above table and assume a fixed cost of $200. At an output of 2, ATC is
A. $150.
B. $200.
C. $250.
D. $300.
C. $250.
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Aggregate demand is the relationship between the quantity of real GDP demanded and the ________
A) price level B) money wage rate C) real wage rate D) nominal GDP demanded
A circular flow diagram shows the flows from the goods and resources markets
Indicate whether the statement is true or false
The intrinsic value of an option
A) is equal to the option premium. B) is the amount the option actually is worth if it is immediately exercised. C) is the amount the option is expected to be worth on its expiration date. D) is impossible to determine in the absence of information on the future prices of the underlying asset.
In 2010 the federal government reduced the Social Security tax withholding rate from 12.4 percent (6.2 percent on both the employer and employee) to 8.4 percent (4.2 percent on both the employer and employee) on the wages of all workers. If the supply of labor is relatively inelastic when compared to the elasticity of the demand for labor, the burden of this tax will
a. continue to fall primarily on employees. b. continue to fall primarily on employers. c. be divided equally between employees and employers. d. change from primarily falling on employees to employers.