Which of the following is true for a constant cost industry?
a. The total cost of producing 500 units will be the same as the total cost of producing 250 units.
b. If 100 units can be produced for $500, then 200 units can be produced for $1,000.
c. The demand curve and, therefore, the unit price in the industry are constant.
d. Firms in the industry will hold output constant if the price of the product increases.
B
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Which term means "making decisions based on what you believe is the best combination of costs and benefits?"
a. economizing b. impulse spending c. cutting back d. motivating
If the current account balance is -$100 billion and the capital and financial account balance is $80 billion, then the official settlement account balance is
A) -$20 billion. B) $20 billion. C) always 0. D) impossible to determine with the information given.