The cost of producing the typical unit of output is the firm's
a. average total cost.
b. opportunity cost.
c. variable cost.
d. marginal cost.
a
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For most of World War II, the United States economy temporarily operated ____________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).
Which of the following is an example of a regional currency arrangement?
A) exchange rate union B) currency cartel associations C) free-trade zones D) most-favored nation status E) agreement on commercial trade
Edward Denison's analysis of the American economy found that
A) total factor productivity was the largest source of economic growth since 1948. B) the contribution of labor growth has been more variable than the contribution of capital growth. C) productivity growth has been positive over every period of more than five years since WorldWar II. D) the contribution of labor growth has been greater than the contribution of capital growth.
One of the reasons the student loan repayment plan at Yale did not work was because:
A. complete information was given to both the students and the University. B. there was an adverse selection of students into the program. C. the moral hazard of students made them take riskier jobs. D. the collective bargaining with the students reached an impasse.