Information products (e.g., software)
A. have relatively high fixed costs and relatively high marginal and average variable costs.
B. have relatively high fixed costs but low marginal and average variable costs.
C. have relatively low fixed costs but high marginal and average variable costs.
D. have relatively low fixed costs and relatively low marginal and average variable costs.
Answer: B
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When the exchange rate between the U.S. dollar and the euro changes from 1.30 euros per dollar to 1.00 euro per dollar the dollar has ________ and European goods have become ________ to people in the United States so that quantity of U.S
dollars supplied ________. A) appreciated; more expensive; decreases B) depreciated; cheaper; increases C) depreciated; more expensive; decreases D) depreciated; cheaper; decreases E) appreciated; cheaper; increases
FICA taxes and corporate retained earnings are subtracted from national income when personal income is computed
a. True b. False Indicate whether the statement is true or false
The elastic portion of the downward-sloping straight-line demand curve lies:
A. at the intersection with the supply curve. B. above the point of unit elasticity. C. anywhere to the right of the current market price. D. below the point where total revenue is maximized.
The costs in time and effort incurred by people and firms who are trying to minimize their holdings of cash because of inflation are called
A. transactions costs. B. menu costs. C. imperfect competition costs. D. shoe leather costs.