MATCHING Match Each Person with One of the Descriptions Below

question 52

Multiple Choice

MATCHING
Match each person with one of the descriptions below.
-Dean Rusk

• A)was a segregationist Alabama governor
• B)won California's Democratic primary in 1968
• C)was the first black student at the University of Mississippi
• D)was the first African American cabinet member
• E)won Arizona in 1964 presidential race
• F)wrote The Other America
• G)was elected vice president in 1960
• H)was secretary of state
• I)was the American army commander in Vietnam
• J)became major spokesman for the Black Muslim movement

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good or service and the higher market price they actually receive.

Economic Profit

Economic profit is the difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding the opportunity costs of resources used.

Fixed Costs

Expenses that do not change with the level of production or business activity within a certain range or period.

Short-Run Marginal Cost Curve

A graph that shows the cost of producing one more unit of a good or service in the short term, when some factors of production are fixed.