According to the table shown, fixed costs must be:
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $10.
B. $200.
C. $60.
D. Fixed costs cannot be determined by the information in the table.
A. $10.
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In 2013, the budget deficit in the United States was approximately
A) $9.7 billion B) $9 billion. C) $973 billion. D) $17 trillion. E) $97 billion.
An increase in a country's rate of inflation is apt to
A. lower its nominal rate of interest and encourage an inflow of capital. B. decrease demand for the country's currency. C. reduce its imports and improve its trade balance. D. worsen its balance of trade and balance of payments.
Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn0160032040120202408080401601204060801600800Who has the comparative advantage in the production of corn?
A. Jorge B. Giovanni C. Both D. Neither
Price increases always reduce economic efficiency.
Answer the following statement true (T) or false (F)