Refer to the above figure. Curve (4) is the
A. marginal product curve.
B. average fixed cost curve.
C. average variable cost curve.
D. total fixed cost curve.
Answer: B
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What effect does a contractionary monetary policy in the U.S. have on the foreign trade sector?
A) The higher value of the dollar will decrease imports and increase exports. B) The higher value of the dollar will decrease exports and increase imports. C) The lower value of the dollar will decrease imports and increase exports. D) The lower value of the dollar will decrease exports and increase imports.
Figure 34-2
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In Figure 34-2, if the United States and Mexico are negotiating to trade wheat for petroleum,
A. the United States must receive more than 1 2/3 units of petroleum for a unit of wheat. B. Mexico must receive more than 1 2/3 units of petroleum for a unit of wheat. C. the limits of the agreement are between 1 unit of wheat for 2/3 unit of petroleum for the United States and 1 unit of wheat for 1 1/2 units of petroleum for Mexico. D. if the agreement is formalized at 1 unit of wheat for 1 unit of petroleum, then Mexico will benefit from the trade but the United States will not.
The concept of "market clearing" is adopted and defended by
A. fine-tuning economists. B. Classical economists. C. Keynesian economists. D. demand-side economists.
When there is a run up in stock prices
A. interest rates decrease. B. inflation increases. C. investment increases. D. saving increases.