The above table shows some cost data for Tracey's Tents. What is the average total cost when output is 3?
A) $120
B) $30
C) $40
D) $50
C
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If the government of a country is maintaining an overvalued currency against the dollar, then the:
A) quantity of dollars demanded will exceed the quantity of dollars supplied in the foreign exchange market. B) quantity of dollars demanded will equal the quantity of dollars supplied in the foreign exchange market. C) quantity of domestic currency demanded will exceed the quantity of dollars supplied in the foreign exchange market. D) quantity of dollars supplied will exceed the quantity of dollars demanded in the foreign exchange market.
Which of the following events would increase the four-firm concentration ratio in a milk industry with six firms?
a. The two largest milk producers merge. b. The largest milk producer buys an ice cream-making plant. c. The largest milk producer lures customers away from the second-largest producer. d. The four largest milk producers collusively fix prices.
The economic way of thinking will help you
A) make decisions in financing your home. B) analyze solutions to economic problems. C) make better decisions concerning your education. D) all of the above
All of the following could represent the transmission of monetary policy, except:
A. net exports changing. B. households altering their spending on durable goods. C. firms altering their growth plans. D. income tax rates changing.