Fixed costs are defined as
a. the total costs of a firm's production
b. the additional cost of the last unit produced
c. costs that increase proportionately as the quantity produced increases
d. costs that do not vary as quantity produced increases
e. implicit costs only
D
Economics
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Recall from Chapter 5: Other things constant, when households lower their time preferences, and demonstrate a willingness to postpone some present consumption for future consumption,
A) their savings increase. B) their savings decrease. C) the budget deficit increases. D) the budget deficit decreases.
Economics
The sequence from largest (in terms of value, e.g., billions $) to smallest would be
a. M1, M2, M3 b. M2, M3, M1 c. M3, M2, M1 d. M3, M1, M2 e. M1, M3, M2
Economics