Sticky Cakes is a bakery. A decrease in the wage rate that Sticky Cakes pays its workers
A) does not shift its MC curve or its ATC curve.
B) shifts its MC curve downward but not its ATC curve.
C) shifts both its MC curve and its ATC curve downward.
D) does not shift its MC curve but shifts its ATC curve downward.
C
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When a nation exports a good or service in which it has a comparative advantage, production of the good or service
A) decreases. B) stays the same. C) increases. D) might change, but more information about what the country imports is needed to determine if production increases, decreases, or does not change. E) might change, but more information about what else the country exports is needed to determine if production increases, decreases, or does not change.
Which of the following is included in National Income?
A) indirect taxes B) consumption of fixed capital C) proprietors' income D) all of the above