In the short run, the ATC curve is _____ above the AVC curve.
A. always
B. sometimes
C. never
A. always
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The income per capita of a country with a population of 50,000 is $4,500. Its gross domestic product is ________
A) $54,500 B) $900,000 C) $225,000,000 D) $120,000,000
Jamie is preparing to take his SAT tests. The table above shows how Jamie's score depends on the number of hours a week Jamie studies
a. Plot the relationship in the figure, putting the hours studied on the horizontal axis. b. Is the relationship you plotted positive or negative? c. What happens to the slope of the relationship as hours studied increase? d. Suppose Jamie can enroll in an SAT prep course and, by so doing, for every possible number of hours he studies, his score will be 100 points higher. Plot the new relationship between the number of hours studied and Jamie's SAT score in the figure. e. How many variables are involved in the figure you just completed?
Economic rents
A. accrue only to land. B. accrue only to labor. C. accrue only to entrepreneurs. D. can accrue to any resource.
The economy experiences a decrease in the price level and an increase in real domestic output. Which is a likely explanation?
a. National income abroad has increaseda b. Interest rates and wage rates have decreased c. Consumer incomes and the quantity of labor have decreased d. The prices of imported resources have increased