Cash payments for steel to be used in production would be an example of
a. sunk costs
b. fixed costs
c. explicit costs
d. implicit costs
e. entrepreneurial costs
C
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There seems to be some basis for concluding that genetic differences in intelligence exist between blacks and whites
Indicate whether the statement is true or false
Tradeable effluent markets
a. exist only in the United States b. are being used only for point to point trades c. are in use in the United States, Canada, and Australia d. have resulted in consistently high rates of trading activity
If net taxes are decreased by $500 billion, and the marginal propensity to consume is 0.80, then which of the following correctly describes the increase in real GDP that will be generated by the decrease in net taxes?
a. $2 trillion b. $1 trillion c. $500 billion d. $400 billion
Discuss and explain the relationships between the monopolist's demand curve, average revenue curve, and marginal revenue curve
What will be an ideal response?