Use the following figure to answer the next question.
At which point does marginal cost (MC) equal average variable cost (AVC)?
A. Point B
B. Point C
C. Point D
D. Point A
Answer: A
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Which of the following is FALSE about saving?
A) Saving adds to wealth. B) Income left after paying taxes can either be consumed or saved. C) Saving equals wealth minus consumption expenditures. D) Saving is the source of funds used to finance investment.
Which of the following statements is true?
a. Deflation is an increase in the general level of prices. b. The consumer price index (CPI) measures changes in the average prices of consumer goods and services. c. Disinflation is an increase in the rate of inflation. d. Real income is the actual number of dollars received over a period of time. e. The real interest rate equals the nominal rate of interest plus the inflation rate.
The same laptop computer cost $2,000 in the United States, 220,000 Japanese yen, £1,300 British pounds, and €1900 in Germany. If the law of one price holds, what are the yen/$; £/$ and €/$ exchange rates?
What will be an ideal response?
People who want to work but have stopped looking for work because they could not find jobs after actively searching are called:
A. employed. B. unemployed. C. discouraged workers. D. empowered.