Which of the Following Types of Costs Remain Constant Per

question 137

Multiple Choice

Which of the following types of costs remain constant per unit within a certain relevant range?

• A) Opportunity costs
• B) Sunk costs
• C) Fixed costs
• D) Variable costs

---

Definitions:

Economy Output

The total value of all goods and services produced by an economy over a specific time period, also known as gross domestic product (GDP).

Equation of Exchange

The Equation of Exchange is an economic identity that relates the supply of money in an economy to the value of goods and services transactions, commonly represented as MV = PQ.

Modern Monetarists

Economists who follow the beliefs of monetarism that emphasize the role of governments in controlling the amount of money in circulation to influence the economy.

Velocity V

The rate at which money circulates in an economy, typically measured as the ratio of nominal GDP to the money supply.