Refer to Figure 11-5. Identify the curves in the diagram
A) E = average fixed cost curve; F = average total cost curve; G = average variable cost curve, H = marginal cost curve
B) E = marginal cost curve; F = total cost curve; G = variable cost curve, H = average fixed cost curve
C) E = average fixed cost curve; F = variable cost curve; G = total cost curve, H = marginal cost curve
D) E = marginal cost curve; F = average total cost curve; G = average variable cost curve; H = average fixed cost curve.
D
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The U.S. federal government spent more than $4 trillion in 2018, which implies that there were no opportunity costs faced by the United States.
Answer the following statement true (T) or false (F)
In the long run, total spending only influences:
A. potential output. B. actual output. C. productive capacity. D. inflation.
If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider
A) the Apple Watch and the Samsung Gear S2 to be substitutes. B) the Apple Watch and the Samsung Gear S2 to be complements. C) the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good. D) the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.
In Figure 10-5 above, suppose that new tougher environmental regulations require certain industries to accelerate their phase-out of some of their existing equipment and install new types that produce less pollution
Translating this into an effect on d causes a movement of the steady-state point such as from points A) A to B. B) D to B. C) D to C. D) A to C. E) D to A.