Unexpectedly high inflation ________ borrowers and ________ lenders.
A. helps; hurts
B. hurts; hurts
C. helps; helps
D. hurts; helps
Answer: A
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A multi-plant firm has three plants. At its current production levels, the marginal cost of production is $1.50 at plant 1, $1.50 at plant 2, and $1.50 at plant 3. The firm's overall marginal cost of production is ________.
A) $7.50 B) $1.50 C) $4.50 D) $3.00
Special-interest groups:
a. are more likely to be well-informed about "their" issue than the general public b. may consist of a congressional district c. may support policies that are harmful to the general public d. all of the above
Average fixed cost is defined as:
A. total variable cost divided by quantity. B. quantity divided by total variable cost. C. the change in total variable cost divided by the change in quantity. D. total fixed cost divided by quantity.
Which of the following is true?
A) India is the world's largest democracy. B) India began reforming and opening its economy prior to China. C) At the end of the twenty-first century, China will have a larger population than India. D) India has a larger manufacturing sector than China.