Federal Judges

question 36

Multiple Choice

Federal judges

• A) serve lifetime terms.
• B) are appointed by the president.
• C) may be impeached and removed from office.
• D) are approved by the Senate.
• E) All the above are true.

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Definitions:

Total Variable Cost

The sum of all costs that vary with output level, including costs such as labor and materials.

Shut Down

This term refers to a short-term decision made by a firm to cease operations when the market price falls below the minimum average variable cost.

Scale of Production

Refers to the level at which production activities are aggregated or expanded, affecting the unit costs and capability of the production process.

Lower

To decrease in position, value, or condition.