Average productivity of labor is measured as the additional output produced by an additional worker.
Answer the following statement true (T) or false (F)
False
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The methods that governments use to support farmers vary, but they almost always involve some or all the following methods EXCEPT
A) pay farmers a subsidy. B) introduce a price floor. C) isolate the domestic market from global competition. D) tax farmers. E) use price supports.
A factory produces 1,000 radios a year, AVC = $10 and TFC = $5,000. The factory’s TC
A. equals $15. B. equals $5,005. C. equals $15,000. D. cannot be determined from the information given.
The idea that consumers will not consistently discount the future over time is known as ________
A) intertemporal choice B) tertiary inversion C) hyperbolic discounting D) antediluvian Machiavellianism
A tariff will decrease the supply of the product
a. True b. False Indicate whether the statement is true or false