Which of the following is NOT a voluntary exchange?
A) Tom's car is stolen from in front of his house.
B) Marie buys groceries.
C) Scott pays $10,000 for tuition and fees this semester.
D) Emily buys a $1,000 plane ticket to fly from New York to Dallas on short notice.
A
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The output at which average product is a maximum is the same output at which ________ is a minimum
A) average fixed cost B) average variable cost C) average total cost D) marginal cost
What was the least important reason for the failure of the Virginia Company?
a. Difficulty in finding good crops to grow b. The Company's employees had unforeseen labor alternatives. c. There was a relatively small incentive for employees to work hard. d. The death rate was much higher than they expected.
Which of the following characterizes the IACs?
a. High per capita GDP growth and high population growth. b. Low per capita GDP growth and low population growth. c. Low per capital GDP growth and high savings rate. d. Low human capital investment.
Consumers gain from trade within a monopolistically competitive industry because:
a. prices fall and product varieties decrease. b. prices rise and product varieties increase. c. prices rise and product varieties decrease. d. prices fall and product varieties increase.