Total costs equal
a. Fixed costs
b. Variable costs
c. Sunk costs
d. Fixed costs plus variable costs
d
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Thinking as an economist would, which is TRUE of investment?
A) Investment is putting money into stocks and bonds. B) Investment is a stock concept. C) Investment represents spending on capital goods. D) It is the portion of disposable income that is not used for consumption or saving.
Refer to Table 18-2. Given the following exchange rates in the above table, what are the exchange rates stated as U.S. dollars per Mexican peso and U.S. dollars per British pound respectively?
A) 0.10 dollars per peso and 5.00 dollars per pound B) 0.01 dollars per peso and 0.50 dollars per pound C) 0.01 dollars per peso and 0.20 dollars per pound D) 0.10 dollars per peso and 2.00 dollars per pound E) 1.00 dollars per peso and 20.00 dollars per pound
Refer to Table 11-7. What is the average variable cost per unit of production when the firm produces 90 lanterns?
A) $490 B) $33.67 C) $7.67 D) $5.44
If there is an expansionary gap in the short run, the adjustment to the long-run equilibrium involves expansion of aggregate demand
Indicate whether the statement is true or false