In economics, the total amount received for selling a good or service is referred to as
A) revenue.
B) profit.
C) capital gains.
D) factor payments.
Answer: A
Economics
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Structural unemployment may result from all of the following factors EXCEPT
A) improved elementary and secondary education. B) union wage contracts. C) government-imposed licensing arrangements that restrict entry into certain professions. D) welfare and unemployment benefits.
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If as output increases average product increases, then ________
A) average total cost decreases B) average fixed cost decreases C) marginal cost decreases D) average variable cost decreases
Economics