Refer to the following graph. The price of labor is $3 per unit:
What is the minimum cost of producing 100 units of output?
A. $150
B. $105
C. $60
D. $75
Answer: B
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Contrast the Cambridge and Fisher versions of the quantity theory. Explain why the Cambridge version of the quantity theory represents a more modern monetary theory when compared to Fisher's version
What will be an ideal response?
According to economic reasoning, you should offer one hour of volunteer service per week when Select one:
a. The total benefits of doing so are less than the total costs. b. The additional costs of doing so are great than the additional benefits. c. The additional costs of doing so are the same as the additional benefits. d. The additional benefits of doing so are greater than the additional costs.
Which of the following will cause an increase in U.S. gross exports?
A. An increase in U.S. consumer income. B. An increase in foreign consumer income. C. A decrease in foreign business income. D. A decrease in foreign business investment.
Other things equal, an increase in government spending shifts
A. the AD curve to the left. B. the AS curve to the right. C. the AS curve to the left. D. the AD curve to the right.