As of 2007, About Two-Thirds of Native American Family Households

question 73

True/False

As of 2007, about two-thirds of Native American family households were composed of married-couple families, a figure below that of Hispanic, Asian, and white Americans.

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Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

Marginal Cost

The financial increase incurred by adding one more unit to the production of a product or service.

Short Run

A time period in economics during which at least one input (e.g., plant size, machinery) is fixed, affecting the firm's capacity to adjust production levels.

Long Run

A period in which all factors of production and costs are variable, allowing firms and the economy to adjust to changes fully.