Which of the following is the best example of a variable cost?
a. monthly wage payments for hired labor
b. annual property tax payments for a building
c. monthly rent payments for a warehouse
d. annual insurance payments for a warehouse
a
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Which of the following statements concerning the First Bank of the United States is not true?
a. Its creation was proposed by Alexander Hamilton. b. States' rights advocates opposed its creation. c. It could present state bank notes to the state banks for payment in specie. d. It was the first central bank in the world. e. It was able to control the money supply.
Everything else equal, the more rivals a firm has, the
a. less kinked is its demand curve. b. closer is its equilibrium price to its average variable costs. c. more differentiated is its product from rivals' products. d. more elastic is its demand curve.
If the price of a complement for tires decreases, all else equal,
A. demand for tires will decrease. B. demand for tires will increase. C. quantity demanded for tires will decrease. D. quantity supplied for tires will decrease. E. supply for tires will increase.
A contractionary fiscal policy shifts the aggregate demand curve
A) to the right and is used to close an inflationary gap. B) to the right and is used to close a recessionary gap. C) to the left and is used to close an inflationary gap. D) to the left and is used to close a recessionary gap.