In the figure, curves 1, 2, 3, and 4 represent the:
A. ATC, MC, AFC, and AVC curves respectively.
B. MC, AFC, AVC, and ATC curves respectively.
C. MC, ATC, AVC, and AFC curves respectively.
D. ATC, AVC, AFC, and MC curves respectively.
C. MC, ATC, AVC, and AFC curves respectively.
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The gold standard prevented a nation from controlling its domestic economy through monetary policy.
Answer the following statement true (T) or false (F)
If the world real interest rate were 6% and the domestic real interest rate in Denmark was 9%, borrowers in Denmark would borrow at the rate of ________ and lenders in Denmark would lend at the rate of ________
A) 6%; 6% B) 6%; 9% C) 9%; 6% D) 9%; 9%
A normative statement is generally based upon:
A. data that can be tested. B. a factual claim. C. subjective beliefs. D. scientific fact.
Which of the following will cause the average fixed cost curve of making cigarettes to shift?
A) a $5 million penalty charged to each cigarette maker B) a $1 per pack tax on cigarettes C) a $3 per hour wage increase D) an increase in the demand for cigarettes