If the firm in the above figure produces output level D, it incurs an average fixed cost of production equal to the distance
A. KR.
B. DK.
C. RN.
D. JL.
Answer: A
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Suppose Americans buy inputs from foreigners. When the price of foreign inputs falls, the U.S. SRAS curve __________, which tends to __________the U.S. price level
A) shifts rightward; reduce B) shifts leftward; increase C) shifts leftward; reduce D) remains constant; increase
In a capitalabundant country, free trade will cause a(n) __________ in the rental of capital and a(n) ____________ in the marginal product of capital.
a. increase; increase b. increase; decrease c. decrease; decrease d. decrease; increase
A per-unit tax on coffee paid by the seller causes the:
A. demand for coffee curve to shift upward by the amount of the per-unit tax. B. demand for coffee curve to shift downward by the amount of the per-unit tax. C. supply of coffee curve to shift downward by the amount of the per-unit tax. D. supply of coffee curve to shift upward by the amount of the per-unit tax.
Refer to the information provided in Figure 34.2 below to answer the question(s) that follow.
Figure 34.2Refer to Figure 34.2. The dollar is currently at Point A. An appreciation of the dollar causes a movement to Point
A. E. B. B. C. C. D. D.