Refer to Figure 11-7. If output is 100 units what is the fixed cost of production?
A) $8 B) $800
C) $1,000 D) This cannot be determined from the diagram.
B
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A ________ occurs when government spending exceeds tax revenue
A) budget deficit B) negative externality C) consumer surplus D) positive externality
Exchange of developing country debt (at a discount) for private ownership of state-owned assets is called
(a) debt-equity swaps. (b) debt restructuring. (c) the Brady Plan. (d) debt-nature swaps.
When the price of Italian wine rises, this change is reflected in the U.S. CPI but not in the U.S. GDP deflator
a. True b. False Indicate whether the statement is true or false
A leftward shift of the supply curve for oil in the United States is most likely to result from:
A. A decrease in the fees that oil companies must pay for drilling licenses B. An increase in the subsidy for oil exploration and drilling C. A decrease in the world price of oil D. An increase in the costs of exploration and drilling for oil