Which of the following costs is independent of output?
A. Variable costs
B. Fixed costs
C. Marginal costs
D. Total costs
Answer: B
Economics
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Deflation is defined as a situation in which
A) the rate of inflation is below 2 percent. B) the average of all prices of goods and services in an economy is falling. C) the value of the dollar is rising relative to other currencies. D) the Gross Domestic Product's growth rate is less for a given quarter than it was for the prior quarter.
Economics
A good that delivers a high level of satisfaction to consumers is said to have a high level of ______.
a. equilibrium b. bounded rationality c. substitution d. utility
Economics