The supply-side policies of the Reagan and Bush administrations led to high levels of
A. budget surpluses.
B. unemployment.
C. inflation.
D. budget deficits.
Answer: D
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A member of a corporate board of directors that does not have a direct management role in the firm is known as
A) a shareholder. B) a corporate governor. C) an inside director. D) an outside director.
Which always increase(s) as output increases?
A) Marginal Cost only B) Fixed Cost only C) Total Cost only D) Variable Cost only E) Total Cost and Variable Cost
The main reason our current account deficit is so large is that
A. we are running huge merchandise trade deficits. B. we are running huge federal budget deficits. C. we are allowing too much foreign investment in the United States. D. we are investing too much abroad.
If a firm's total costs are $100 when 10 units of output are produced and $103 when 11 units of output are produced, the marginal cost of the 11th unit is
A. $1. B. $3. C. $5. D. $9.36.