If the cost borne by a firm when output is zero is $100 and that of producing 5 units is $250, then the variable cost of the firm is equal to $150
a. True
b. False
Indicate whether the statement is true or false
True
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What is the relationship between U.S. real GDP and U.S. imports?
What will be an ideal response?
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 cash deposit, then, excluding the $1,000 initial deposit, the banking system can increase the money supply by:
a. $900. b. $910. c. $1,000. d. $9,000. e. $10,000.
Depreciation refers to a decrease in the value of a good caused by
A) an increase in the price level. B) a decrease in the price level. C) "wear and tear" of capital goods over time. D) the depreciation allowance. E) a decrease in purchasing power.
Advantage of holding money?
What will be an ideal response?