The marginal cost of an activity is the:
A. the total cost of the activity divided by the change in the level of the activity.
B. change in the level of the activity divided by the change in the cost of the activity.
C. the total cost of the activity divided by the level of the activity.
D. change in the total cost of the activity that results from carrying out an additional unit of the activity.
Answer: D
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Which of the following offers an example of structural unemployment?
A. The rise in unemployment for stable workers after the development of gasoline-powered automobiles and the resulting long-term decline in horse-and- buggy transportation. B. The rise in unemployment among farm workers after harvest. C. The unemployment associated with workers changing jobs. D. The increase in unemployment during recessions.
Related to the Economics in Practice on p. 51: The Amazon Kindle and the electronic textbooks available for the Kindle are complementary goods. Electronic textbooks and traditional, hard-copy textbooks are substitute products. If the price of electronic textbooks for the Kindle increases
A. demand for the Kindle decreases, demand for electronic textbooks decreases, and demand for traditional, hard-copy textbooks increases. B. demand for the Kindle increases, the quantity of electronic textbooks demanded decreases, and demand for traditional, hard-copy textbooks increases. C. the quantity of Kindles demanded decreases, demand for electronic textbooks decreases, and the quantity of traditional, hard-copy textbooks demanded increases. D. demand for the Kindle decreases, the quantity of electronic textbooks demanded decreases, and demand for traditional, hard-copy textbooks increases.
What are checkable deposits?
Refer to Table 2.3. Nominal GDP in 2013 is
A) $568.00. B) $794.00. C) $812.00. D) $961.00.