Quantitative analysis of relevant data show that economic problems for farmers in the last half of the 19th century included:
a. falling prices of farm products relative to other prices.
b. rising real interest rates.
c. rising prices for consumer goods.
d. rising prices for farm equipment.
e. All of the above
e. All of the above
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It is a mistake to calculate the cost per mile of owning a car because doing so implies
A) additional driving will lower the cost of owning a car. B) future fuel and maintenance costs cannot be predicted. C) marginal costs are the only relevant costs. D) opportunities will not arise to sell the car.
Only government restrictions serve as entry barriers
a. True b. False Indicate whether the statement is true or false
The aggregate demand curve shows a(n)
A. positive relationship between prices and quantities. B. inverse relationship between the price level and the aggregate quantity demanded. C. independent relationship between the price level and the aggregate quantity demanded. D. inverse relationship between the product price and the quantity of a good demanded.
If the average variable cost of the fifth hat is $30, then the total variable cost of five hats is
A. $6. B. $150. C. $1,800. D. indeterminate from this information.