Since 1305, of the following centuries the inflation rate has been the highest during the
A) 17th century.
B) 16th century.
C) 20th century.
D) 14th century.
E) 15th century.
C
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Which of the following statements is true?
A) The marginal cost curve intersects the average fixed cost curve at its minimum point. B) When marginal cost is greater than average fixed cost, average fixed cost increases. C) Average fixed cost does not change as output increases. D) As output increases, average fixed cost becomes smaller and smaller.
Fiscal policy includes changing the level of household taxes.
Answer the following statement true (T) or false (F)
Which of the following is an example of differentiated goods?
A) Books and cosmetics B) Fuel and water C) Potatoes grown by different farmers D) Tea and energy drinks
"If a union is only able to organize a few of the firms in an industry, it is unlikely that the union can substantially increase the wages of its members." This statement is
a. false; unions tend to be stronger when they concentrate on only a few producers in an industry. b. false; the demand for unionized workers will be more inelastic if only a few firms in the industry are unionized. c. false; all unions can increase the wages of their members. d. essentially correct.