A graph which maps the total costs of production against the amount made is called the
A. average cost function.
B. production function.
C. marginal cost function.
D. cost function.
Answer: D
You might also like to view...
If the poor cannot afford proper medical treatment, an economist, for reasons of efficiency, would favor
A. giving the poor added income to spend as he or she sees fit. B. paying doctors bonuses to treat the poor. C. paying the medical bills of the poor. D. giving the poor “medical stamps.”
How does the growth in the daily volume of foreign currency transactions compare with the growth rate of the global economy?
What will be an ideal response?
Land sale booms were caused by large waves of immigration
Indicate whether the statement is true or false
Which of the following is consistent with an active approach to policy?
a. The natural rate of unemployment being uncertain b. Wages and prices being relatively quick to adjust c. The short-run aggregate supply curve being slow to shift in the presence of a recessionary gap d. The size of the multiplier being irrelevant e. The aggregate demand curve being slow to shift in the presence of a recessionary gap