Figure 8.3 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 100, the total variable cost is:

Several economists have hypothesized that the terms of trade for developing countries will decline over time. Which of the following might be a cause of this decline?

a. Technological progress in manufactured goods has caused their prices to fall. b. Some developing countries are able to keep the price of their exports high by restricting supplies on the world market. c. Increased demand for developing country exports has caused prices of developing country exports to rise. d. The demand for primary product exports from developing countries has not risen as fast as the demand for manufactured exports of industrialized countries.

An increase in real GDP affects the demand for money because

A) tax payments rise because more income is earned. B) there is an inverse relationship between the quantity money demanded and nominal GDP. C) at the higher price level, it takes more dollars to make expenditures. D) when real GDP increases, more money is needed to make expenditures. E) the larger real GDP, the higher the real interest rate.