Baseball teams shut down in the winter. This is an example of
A) permanently leaving the industry because price is less than average fixed cost.
B) temporarily leaving the industry because price is less than average variable cost.
C) temporarily leaving the industry because price is less than average fixed cost.
D) permanently leaving the industry because price is less than average variable cost.
B
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In the classical model, the loanable funds market will clear when saving
a. equals investment plus government purchases minus net taxes b. equals net taxes c. equals investment d. equals investment plus government purchases e. minus taxes equals investment plus government purchases
In an economy with a population of 300 million persons, 130 million hold civilian jobs and 8 million are not working but are looking for jobs. The unemployment rate is
a. 6.2 percent. b. 8.6 percent. c. 2.7 percent. d. 9.4 percent. e. 5.8 percent.
In the article "After iPhone Price Cut, Sales Are Up by 200 Percent,"
A. There was no way to calculate the price elasticity of demand. B. The survey of quantity demanded after a price change for the iPhones showed that iPhones are an inferior good. C. The demand for iPhones is highly elastic. D. The demand for iPhones is inelastic.
Suppose that the chain-weighted index for GDP in Gambia was 275 in 2015 and 350 in 2016. The inflation rate between those two years was approximately:
A. 20.2 percent. B. 27.3 percent. C. 37.5 percent. D. 75 percent.