Answer the next question on the basis of the following data.OutputTotal Cost0$24133241348454561669The average fixed cost of producing 3 units of output is
A. $6.00.
B. $7.40.
C. $8.00.
D. $5.50.
Answer: C
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If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labor force, 10 million unemployed and 150 million employed, the labor force participation rate is
A) 69.6 percent. B) 23.3 percent. C) 6.67 percent. D) 50 percent.
When you duplicate yourself through other people your security is not dependent on your ability to perform.
A. True B. False
Positive economics
A. does not depend on market interactions. B. only looks at the best parts of the economy. C. examines how the economy actually works (as opposed to how it should work). D. is very subjective.
Use the following table to answer this question, which provides information on the production of a product that requires one variable input. InputTotal Product0015220332442550655758858956 Diminishing marginal returns set in with the addition of the
A. fourth unit of input. B. first unit of input. C. second unit of input. D. third unit of input.