The marginal cost curve intersects:
A) the total cost curve at its minimum.
B) the average fixed cost curve at its maximum.
C) the average fixed cost curve at its minimum.
D) both the average variable cost curve and the average total cost curve at their minimum.
D
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The Board of Governors of the Fed consists of: a. seven elected members
b. seven members appointed by the president. c. a representative from each of the 12 district banks. d. 12 elected members. e. 12 members appointed by the president.
Comparative advantage explains why a nation will benefit from trade when:
a. it exports more than it imports. b. its trading partners are experiencing offsetting losses. c. it exports goods for which it is a high-opportunity cost producer, while importing those for which it is a low-opportunity cost producer. d. it exports goods for which it is a low-opportunity cost producer, while importing those for which it is a high-opportunity cost producer.