If a firm's total fixed costs are $30, the firm's marginal cost of producing the first unit of output is $30, and the average total cost of producing two units of output is $42, the marginal cost of the second unit of output is:
A. $84.
B. $54.
C. $42.
D. $24.
Answer: D
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(a) Low income elasticities for these products. (b) Low likelihood of development of further synthetic substitutes. (c) Continued agricultural protection despite trade agreements. (d) Declining terms of trade.
There are two types of open market operations: ________ open market operations are intended to change the level of reserves and the monetary base, and ________ open market operations are intended to offset movements in other factors that affect the
monetary base. A) defensive; dynamic B) defensive; static C) dynamic; defensive D) dynamic; static
With regard to the Constitution and its interpretation,
(a) the powers reserved for the states included the police powers—local rules, laws and ordinances, including licensing, inspection and the regulation of local business activities. (b) the "common law of England" was in effect, claimed as the right of all Americans and still enforced by England. (c) England was consulted in cases of ambiguity over interpretation of the common law policy. (d) none of the above are true.
The incentive to lend increases as the real rate of interest decreases.
Answer the following statement true (T) or false (F)