Which of the following costs of publishing a book is a fixed cost?
a. author royalties of 5% per book
b. the costs of paper and binding
c. shipping and postage expenses
d. composition, typesetting, and jacket design for the book
d
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A vertical long-run aggregate-supply curve represents
a) both the classical dichotomy and monetary neutrality. b) the classical dichotomy but not monetary neutrality. c) neither the classical dichotomy nor monetary neutrality. d) monetary neutrality but not the classical dichotomy.
The gross domestic product is the
A) the value of all wealth in an economy. B) the value of all goods and services sold to other nations in a year. C) the market value of all final goods and services produced in an economy in a year. D) the market value of all intermediate goods and services produced in an economy in a year.