Total variable costs:
a. are costs associated with short-run fixed capital
b. are so named because they vary from firm to firm within an industry.
c. increase as production increases.
d. decrease as production increases.
c
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In many developing countries, starting a business involves navigating a labyrinth of rules and regulations and red tape. Paying a bribe to expedite paperwork is a common practice
As Samuel Huntington puts it—"the only thing worse than a society with a rigid, overcentralized, dishonest bureaucracy is one with a rigid, overcentralized, honest bureaucracy." The argument is that bribes increase economic activity because, without bribes to grease bureaucrats' palms, starting a business would be an extremely long, drawn-out process and would probably drive investors away. Is this always the case, or does bureaucratic corruption involve other costs? Explain your answer.
A firm uses ________ for goods which the consumer takes pride in owning
A) price skimming B) prestige pricing C) penetration pricing D) predatory pricing
The Lorenz curve shows the:
a. growth of income over time compared to potential growth of income. b. relative percentage of income going to each of the resources. c. demand for unskilled versus unskilled labor. d. actual cumulative percentage of income received compared to a perfectly equal cumulative percentages of income.
The "quantitative easing" policies of the Fed during, and following, the financial crisis of 2008-2009, resulted in
a. rapid growth of both the money supply and nominal GDP. b. rapid growth of the money supply and a substantial increase in the rate of inflation. c. low interest rates and a sharp decline in the velocity of the money supply. d. low interest rates and a sharp increase in the velocity of the money supply.