If average cost is falling, then marginal cost must be falling.
Answer the following statement true (T) or false (F)
False
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"If the United States enters a war in the Middle East, gasoline prices will go up." This statement is an example of
A) a positive statement. B) an argument. C) a normative statement. D) a factual statement.
The successor organization to GATT, created in 1995, is the
A) WTO. B) EU. C) NAFTA. D) FDIC.
Indicators of economic activity that move at the same time as the overall economy are called ________ indicators.
A. real B. coincident C. long-term D. short-term
Refer to the tables. If South Cantina is producing at production alternative D, the opportunity cost of the third unit of capital goods will be:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. 3 units of consumer goods.
B. 4 units of consumer goods.
C. 5 units of consumer goods.
D. 6 units of consumer goods.