The fact that invention is based largely on fixed costs and is a public good means that which of the following is not relevant to the process?
a. average total cost
b. marginal cost
c. external cost
d. average variable cost
b
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A major factor in determining the rational expectation of inflation is
A) the size of the budget deficit. B) forecasts of the Fed's monetary policy. C) forecasts of fiscal policy. D) the previous month's unemployment rate. E) the recent past behavior of the stock market.
If the GDP deflator rises from 185 to 190, what is the rate of inflation between the two years?
A) 270% B) 50% C) 5% D) 2.7%
A decline in the price of a bond causes the yield of the bond to
A) rise. B) fall. C) remain unchanged. D) rise if it's a short-term bond, fall if it's a long-term bond.
The relationship between a firm's price and sales quantity is described by the ______ for its product.
A. demand curve B. supply curve C. marginal cost curve D. average cost curve