Total cost minus total variable cost equals:
A. marginal cost.
B. total fixed cost.
C. average fixed cost.
D. average variable cost.
Answer: B
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Which of these signifies the role of money in any economy? a. It acts as a tool for poverty alleviation in an economy
b. It serves as a medium of exchange in an economy. c. It indicates the economic wellbeing of a nation. d. It helps to differentiate between the nominal and real income of a nation. e. It is a clear indicator of the growth in national income.
When government purchases increase, the spending multiplier indicates the _____
a. amount of movement along the aggregate demand curve b. amount of movement along the aggregate supply curve c. size of the rightward shift of the aggregate demand curve at a given price level d. size of the rightward shift of the aggregate supply curve at a given price level e. size of the expansionary gap
Suppose that technological advancements stimulate $20 billion in additional investment spending. If the MPC = .6, how much will the change in investment increase aggregate demand?
A. $12 billion B. $20 billion C. $50 billion D. $33.3 billion
Based on the experiences of many countries, do firms that receive infant industry protection evolve to compete against their more established international competitors?
A. Rarely. B. Never. C. Always. D. Yes, but only in the 1950's and 1960's.