Refer the above figure. Stage "1" of the economy is called
A) the top.
B) the peak.
C) the trend.
D) the climax.
B
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You have two options for how to spend the afternoon. You can either go see a movie with your roommate or work as a tutor for the Math Department. From experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. If you spend the afternoon working as a math tutor, you will get paid $45. On a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. Should you go see a movie or work as a math tutor?
A. You should work as a math tutor. B. You should do neither C. You should go to the movies. D. Both options are equally good.
The political debate over joining NAFTA was especially contentious in the United States because Mexico's standard of living (including wage rates, labor standards, and environmental standards) is low relative to the U.S. standard of living
Indicate whether the statement is true or false
Which of the following always decreases as output increases?
a. ATC b. MC c. AFC d. TC e. TVC
If consumers respond to a 10% price reduction by buying twice as much of a particular good, we would conclude that:
A. the price elasticity of demand at the original price was less than one. B. the price elasticity of demand at the original price was greater than one. C. there was excess demand at the original price. D. there was excess supply at the original price.