Refer to Figure 11-7. When the output level is 100 units average fixed cost is
A) $10. B) $8.
C) $5. D) This cannot be determined from the diagram.
B
You might also like to view...
The percentage return on a loan expressed in terms of goods and services is the
A) real wage rate. B) CPI interest rate. C) real interest rate. D) nominal wage rate. E) nominal interest rate.
A change in which of the following causes a movement along — not a shift in — the IS curve?
A) autonomous consumption B) government purchases C) financial frictions D) all of the above E) none of the above
The free-rider problem is
A) the use of private goods in one state by residents of another state. B) the incentive that people have to avoid paying for a public good. C) the incentive that people have once they are receiving welfare to keep getting welfare. D) that people cannot be forced to accept public goods.
Social insurance has become an increasingly large portion of federal taxes because of the "Baby Boomer" generation.
A. True B. False C. Uncertain