The ratio of total costs to the quantity produced is referred to as
A) average fixed costs.
B) average variable costs.
C) marginal costs.
D) average total costs.
Answer: D
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Which one of the following statements concerning the Second Bank of the United States is not true?
a. It was created by Congress to stabilize the money supply. b. Its constitutionality was a presidential election issue. c. It lost its charter during Andrew Jackson's presidency. d. Its power was undermined when Andrew Jackson shifted Treasury funds from it to state banks e. It instructed northern banks not to accept bank notes from some southern and western banks.
Suppose a new law requires all piercing studios to pass tougher licensing tests and to begin using more costly sterilization methods. Other things constant, this law would cause
a. an increase in the supply of piercings and a lower price for piercings. b. an increase in the supply of piercings and a higher price for piercings. c. a decrease in the supply of piercings and a higher price for piercings. d. a decrease in the supply of piercings and a lower price for piercings.
Which of the following assigns widely followed bond ratings?
A. The U.S. Treasury B. The New York Stock Exchange C. Standard & Poor's D. The Federal Reserve