In the above table, the average fixed cost of producing 15 units of output is
A) $0.50.
B) $2.00.
C) $6.66.
D) $8.66.
B
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Suppose we are plotting the relationship between the unemployment rate and the growth rate of real GDP
If the unemployment rate is measured along the vertical axis and the growth rate of real GDP is measured along the horizontal axis, we will get a(n) ________. A) downward sloping curve B) horizontal straight line C) vertical straight line D) upward sloping curve
Harvey Rabbitt pays for monthly cable TV service. Last week the cable company informed Harvey that his monthly cable price would go down because the city council has granted approval for three new cable companies to service his area
How is the market for cable TV services affected by this? A) There is a decrease in the quantity of cable TV service supplied. B) There is a decrease in the demand for cable TV service. C) There is a decrease in the supply of cable TV service. D) There is an increase in the supply of cable TV service.
If government expenditures exceed tax receipts in a developing country, the government is most likely to:
A. increase taxes. B. cut spending. C. sell bonds to the central bank. D. buy bonds from the central bank.
Refer to the above graph of the representative firm in monopolistic competition. The long-run equilibrium price and output for this firm will be:
A. B and C. B. A and D. C. A and C. D. B and D.