Chapter 15 - Multiple Choice Questions
A variable cost is a cost that
a. varies per unit at every level of activity
b. occurs at various times during the year
c. varies in total in proportion to changes in the level of activity
d. may not be incurred,
21-1. Economists assume the principal motivation of
Their preference for being "their own person."
21-2. Accounting costs and economic costs differ b
Accounting costs exceed economic costs
What are the Lord's expectations for those who possess the land of America?
I definitely know that Lord our God brought me here to the land of promise. I had
many obstacles coming here, but I always prayed to know if this was a good choice. I wanted
I never realized that in all decisions that I need to make, it is really good to think
about the tradeoffs involved. Time is a really good thing to think about, but it is involving
everything and in my case I prefer to be more specific. I have a beautiful
Reflection on The Five Thousand Year Leap
The Five Thousand Year Leap
While reading through the book, I thought a lot the things that they discussed were really
interesting, and it made me wonder if many people know how the constitution was made. If they
The Five Thousand Year Leap Reflection
One of the central point of The American Founding Fathers was trying to balance
between the anarchy on the one hand, and the tyranny on the other. The anarchy wanted no law,
no government, and no system power, and th
How can I apply what I have learned about the production function and cost curves?
That is really important to understand the cost of production. It is not just to
product some good and sells for a determined price. The marginal cost cannot ever
be more t
What are the things that give me the most utility (satisfaction) in life?
Work gives me the most satisfaction in live. I started when I was 14; I understood
that if I want something I needed work for that. I had different kinds of job and I
always had the
The government has the responsibility to help the country and to protect the civil rights.
Ezra Taft Benson, former secretary of Agriculture said, "I believe that governments were instituted of
God for the benefit of man; and that he holds men accountable
What are my normal and inferior goods? What lessons did I learn from the auction activity?
Since I started studying and having more bills to pay, my normal goods are McDouble
with Large Coke and more chicken and noodles. My inferior goods are bread and ch
What are the unique characteristics of my assigned market structure? How many real-world examples
can I cite?
Same of the characteristics of Perfect Competition are: the types of good is largely the same,
there are many number of sellers and buyers, there
I always wanted the opportunity to understand how the economy works in a country. I
like to understand all the factors that influence the growth or cause the economy to fail.
Learning about the economy is helping me a lot to understand what is happen in t