The price of ________ in terms of ________ is the exchange rate.
A. resources; finished products
B. one country's currency; another country's currency
C. imports; exports
D. one country's currency; the inflation rate
Answer: B
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When a firm increases output and the costs rise disproportionately slower, then the long-run average cost curve is __________ and the firm is experiencing __________ .
A) upward sloping; diseconomies of scale
B) downward sloping; constant returns to scale
C) downward sloping; economies of scale
D) horizontal; constant returns to scale
A problem with the TANF program's predecessor AFDC was that it was strictly means-tested
a. True b. False
In the circular flow diagram,
a. money flows from the firms to the households through the product market b. money flows from the households to the firms through the product market c. money flows from the households to the firms through the resource market d. money flows from the households to the firms through both the product market and the resource market e. resources flow to the households from the firms through the product market
The most important indirect taxes in the United States are
a. federal and state income taxes. b. inheritance taxes. c. corporate profits taxes. d. sales and property taxes.