The minimum point of the average total cost curve occurs at an output level that corresponds to
a. the maximum possible total cost
b. an average total cost equal to the marginal cost of the next unit
c. an average variable cost that is greater than the marginal cost of the next unit
d. a marginal cost that is decreasing
e. a constant average fixed cost
B
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Suppose in an economy, investment = $40, saving = $50, government spending+export = $100 and taxes+imports = $110 . Then for this economy, total leakages exceed total injections by:
a. $30. b. $25. c. $10. d. $45. e. $20.
U.S. GDP excludes the production of most illegal goods
a. True b. False Indicate whether the statement is true or false
If this is a closed economy, how many bikes will be produced? 
A. 50,000 thousand B. 100,000 thousand C. 80,000 thousand D. 20,000 thousand
Explain the difference between macroeconomic variables that are in terms of levels and growth rates. Which important macroeconomic variables are which? Which one is the unemployment rate?
What will be an ideal response?