The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average fixed cost?
A) 500
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
E
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Suppose that when the price of ice cream increases, Liza decreases her purchase of hot fudge. To Liza
A) ice cream is a normal good and hot fudge is an inferior good. B) ice cream and hot fudge and substitutes. C) ice cream and hot fudge are normal goods. D) ice cream and hot fudge are complements.
A change that increases real money demand relative to the real money supply causes
A) the LM curve to shift down and to the right. B) the LM curve to shift up and to the left. C) the IS curve to shift down and to the left. D) the IS curve to shift up and to the right.
Unemployment that is of a short duration to allow time to find a new job is:
a. cyclical unemployment. b. frictional unemployment. c. durational unemployment. d. structural unemployment.
What determines the size of a shift in aggregate demand that results from a personal income tax cut?
A. The marginal propensity to consume B. The size and permanence of the tax cut C. The level of consumer confidence D. All of these statements affect the size of such a shift.