The law of diminishing marginal product is NOT responsible for the shape of
A) the total cost curve.
B) the average variable cost curve.
C) total fixed cost curve.
D) marginal cost curve.
Answer: C
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The term "foreign currency" refers to foreign
I. coins II. notes III. bank deposits A) II only B) II and III only C) I and II only D) I, II, and III
Which of the following is an example of a Pigovian tax?
A) a tax imposed on a utility that internalizes the cost of externalities caused by the utility B) payments by utilities to obtain tradable emission allowances C) payments for licenses to pollute D) a payroll tax
The equilibrium price of automobiles is a primarily macroeconomic issue
a. True b. False
Suppose a dyke is constructed in a river city to prevent floods from affecting the city. In this way, all occupants are made equally safe, regardless of whether they pay taxes. Which characteristics of goods hold or do not hold?
A. Rivalry holds but exclusivity does not. B. Exclusivity holds but rivalry does not. C. Neither rivalry nor exclusivity hold. D. Both rivalry and exclusivity hold.