The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the variable cost?
A) 200
B) 5Q
C) 5
D) 5 + (200/Q)
E) none of the above
B
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Indexing is the process of:
A. increasing a real quantity by an amount equal to the percentage change in a price index. B. dividing a real quantity by a price index. C. dividing a nominal quantity by a price index. D. increasing a nominal quantity by an amount equal to the percentage change in a price index.
Refer to Table 26-6. Suppose the table above illustrates the values of real and potential GDP and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary
If the Fed wants to keep real GDP at its potential level in 2017, should the Fed use a contractionary or expansionary policy? Should it raise or lower its interest rate target? How should it conduct open market operations to achieve its goal?
At least two demand curves are present in an international equilibrium model
a. True b. False Indicate whether the statement is true or false
Behavioral economics assume that people are:
A. Eager to, and capable of, estimating the benefits and costs of their decisions B. Very much aware of their preferences and are consistent in their preferences C. Prone to falling prey to temptation because they lack sufficient willpower D. Always focusing on their self-interest and maximizing their own net benefits