________ economy is an economy that produces what consumers demand and does so at the least possible cost.
A. A government-controlled
B. An inefficient
C. A command
D. An efficient
Answer: D
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Studies show that the largest negative impact of illegal immigrants is on:
A. The wages of native-born workers B. The average wage in the U.S. C. Employment opportunities of native-born workers D. The wages of previous immigrants
Suppose the nominal exchange rate rises from 82 to 90. The domestic currency has appreciated by ________ percent
A) ten B) nine C) eight D) 86
If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to
a. $50 b. $100 c. $5 d. $10
Which of the following would eliminate scarcity as an economic problem?
a. Moderation of people's competitive instincts. b. Discovery of sufficiently large new energy reserves. c. Resumption of steady productivity growth. d. None of these.