Academic book publishers hire editors, designers, and production and marketing managers who help prepare books for publication
Because these employees work on several books simultaneously, the number of people the company hires will not go up and down with the quantity of books the company publishes during any particular year. The salaries and benefits of people in these job categories will be included in
A) fixed cost but not variable cost and total cost.
B) fixed cost and marginal cost but not variable cost.
C) fixed cost and total cost but not variable cost.
D) marginal cost and total cost but not fixed cost.
C
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A central concept of New Keynesian macroeconomics is that in setting prices and wages, self-interested firms and workers are acting
A) irrationally, since their self-interest is badly damaged by the ensuing business cycles. B) irrationally, since this imposes business cycles on everyone not part of their arrangements. C) rationally, since they do not bear a fully offsetting cost of business cycles. D) rationally, since the total welfare loss of business cycles must be small enough to justify the price and wage setting.
In an open economy, when the Fed increases the supply of money, it will increase net exports and aggregate demand
a. True b. False Indicate whether the statement is true or false
In practice, cooperative agreements are:
A) the largest single exchange rate format. B) easy to maintain because they have little impact on the nations. C) often contentious because nations favor their own situations over those of their trading partners. D) impossible to maintain because nations have widely differing systems and values.
A low concentration ratio would most likely indicate
A. a low degree of oligopolization. B. that the industry measured is a monopoly. C. that the industry measured is a perfect competitor. D. None of the choices are true.