Vipsana's Gyros House sells gyros. The cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. Vipsana pays her employees $60 per day. She also incurs a fixed cost of $120 per day. Calculate Vipsana's average fixed cost per day when she

Nominal interest rates tend to be higher in countries with

A) higher rates of inflation. B) lower rates of inflation. C) lower real interest rates. D) Both B and C.

David Ricardo used the example of land to demonstrate the concept of rent, as the supply of land is

A) perfectly elastic. B) relatively elastic. C) perfectly inelastic. D) negatively sloped.