The capital stock is fixed at 50 units, the price of capital is $30 per unit, and the price of labor is $25 per unit.  Given the above, if the firm produces 20 units of output, what is average fixed cost?

If net exports is a negative number for a particular year, then

a. the value of firms' inventories declined over the course of the year. b. consumption exceeded the sum of investment and government purchases during the year. c. the value of goods sold to foreigners exceeded the value of foreign goods purchased during the year. d. the value of foreign goods purchased exceeded the value of goods sold to foreigners during the year.

Checking account balances are included in

A. M1 only. B. M2 only. C. both M1 and M2. D. neither M1 nor M2.