Summarize the production costs of a business
What will be an ideal response?
A fixed cost is a cost that does not change, no matter how much of a good is produced. Most fixed costs involve the property or production facility. Variable costs are costs that rise or fall depending on the quantity produced. They include the costs of raw materials and some labor.
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According to the crowding-out effect, if the government runs a budget deficit of $100 billion, what is the change in the equilibrium quantity of investment?
What will be an ideal response?
What are the main features of the Harris-Todaro model of rural-urban migration?
What will be an ideal response?
One signal that the U.S. dollar was overvalued in the early 1970s was the
a. stable price of gold. b. volume of international trade. c. recurring balance-of-trade deficits in the U.S. d. recurring balance-of-trade deficits in European countries.
A depreciation of the U.S. dollar in the foreign exchange market lowers U.S. Real GDP when the _____________ shift of the SRAS curve exceeds the __________ shift of the AD curve
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward