You believe that the total amount of goods produced in the United States has generally increased over the years. In a time-series graph illustrating the total amount produced, you expect to find
A) an upward trend.
B) no relationship between time and the amount of goods produced.
C) an inverse relationship between time and the amount of goods produced.
D) a linear relationship.
A
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A consequence of the quota that has been imposed on the importation of sugar into the United States is
A) competition in the U.S. sugar market is reduced. B) the market for sugar in the United States has become monopolistically competitive rather than oligopolistic. C) the cost of producing cereal, chocolate, and candy products in the United States is reduced. D) consumers are protected from eating unsafe products made from cheap imported sugar.
A short-run production function assumes that
A. at least one input is a fixed input. B. the level of output is fixed. C. all inputs are fixed inputs. D. both a and b E. both b and c
If DI falls by $100 billion, and C falls by $90 billion, the slope of the consumption is
A. ?0.45. B. 0.45. C. ?0.90. D. 0.90. E. 0.50.
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces two figs, David's marginal costs are:
A. $80. B. $90. C. $100. D. $170.