In the long run:
A. all costs are variable costs.
B. all costs are fixed costs.
C. variable costs equal fixed costs.
D. fixed costs are greater than variable costs.
Answer: A
Economics
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The formula for the computation of labor productivity is
A) nominal GDP/number of workers. B) real GDP/number of workers. C) nominal GDP/population. D) real GDP/population.
Economics
The fact that trade policy often imposes harm on large numbers of people, and benefits only a few may be explained by
A) the lack of political involvement of the public. B) the power of advertisement. C) the problem of collective action. D) the basic impossibility of the democratic system to reach a fair solution. E) a cycle of political corruption.
Economics