Which of the Following Statements Is True About the U

question 48

Multiple Choice

Which of the following statements is true about the U.S.economy?

• A)Each year,many new jobs are created,but few existing jobs are destroyed,and the unemployed find jobs quickly.
• B)Each year,few new jobs are created,but few existing jobs are destroyed,keeping unemployment low.
• C)Each year,many new jobs are created and many existing jobs are destroyed.
• D)Each year few jobs are created,and therefore it takes the unemployed a long time to find a new job.

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Definitions:

Total Variable Cost

The sum of all variable expenses associated with producing a particular level of output.

Total Fixed Cost

An expenditure that does not change with the level of production or sales over a short period.

Average Variable Costs

The costs of labor, material, and other inputs that change with the level of production or sales volume.

Average Fixed Costs

The sum of all fixed production costs divided by the number of units produced.