Which of the following cost curves is most often drawn with a U shape?
A. Total cost
B. Average fixed cost
C. Marginal cost
D. Fixed cost
Answer: C
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Which of the following things do banks do with the funds they acquire from savers?
A) invest in corporate stock B) invest in corporate bonds C) make loans to individuals D) all of the above
The Medicaid program is financed by _____
a. excise taxes b. state governments c. the federal government d. state governments and the federal government
When a perfectly competitive firm experiences zero economic profits
A) the high barriers to entry prevent further competition. B) existing firms exit the industry. C) additional firms enter the industry. D) firms have no incentive to exit or enter the industry.
As the interest rate increases, ceteris paribus, the trade-off between present and future consumption
A. Encourages less saving. B. Makes it more appealing to sacrifice current consumption. C. Is not affected. D. Makes it less appealing to sacrifice present consumption.