The total fixed cost curve
A. is negatively sloped.
B. is simply a horizontal line.
C. varies with the level of output.
D. is simply a vertical line.
Answer: B
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According to the Aggregate Demand Aggregate Supply diagram, short-term, an anti-inflation policy creates:
A. higher output. B. higher unemployment C. lower inflation. D. higher inflation.
Which of the following are included in interest income? i. payments made for the use of land ii. income paid to households for loans they make iii. payments made by households for their borrowing
A) i, ii and iii B) ii and iii only C) i and ii only D) ii only E) iii only
When government action is justified based on the argument that everyone agrees to be coerced _____
a. we cannot be sure that everyone is in favor of the action b. the same justification is true of market exchange c. we can be sure that the current state of affair is Pareto efficient d. the private interest becomes the public interest
College students often spend summers in internships that pay little or no income because internships provide benefits in the form of higher future incomes
a. True b. False