If you operated a small bakery, which of the following would be a variable cost in the short run?
A. Baking ovens.
B. Interest on business loans.
C. Annual lease payment for use of the building.
D. Baking supplies (flour, salt, etc.).
Answer: D
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The United States has a much higher national debt as a percentage of GDP compared to other industrialized nations
a. True b. False Indicate whether the statement is true or false
Which of the following is not a basic measure of macroeconomic performance?
A. Output growth B. Unemployment C. Public goods D. Inflation
Table 10-1 Aggregate Quantity Aggregate Quantity ? Demanded Supplied Price (billions) (billions) Level $3500 $2900 65 3400 3000 75 3350 3150 90 3250 3250 110 3100 3400 130 In Table 10-1, what is the equilibrium level of real output and the equilibrium price?
A. $3,100 real output and a price of 75 B. $3,250 real output and a price of 110 C. $3,350 real output and a price of 90 D. $3,400 real output and a price of 75
Third-degree price discrimination results when a firm sells
A. every unit at the same price. B. its product to different groups at different prices. C. its product by volume at a different price. D. its product to every customer at a different price.