Irrespective of Whether a Firm Produces or Shuts Down in the Short

question 140

Multiple Choice

Irrespective of whether a firm produces or shuts down in the short run,fixed cost is equal to its _____

• A)average variable cost.
• B)total cost.
• C)sunk cost.
• D)total revenue.
• E)marginal cost.

Appreciate the demographic variations in poverty rates.

Analyze employment dynamics within low-income families.

Recognize offshoring and its effect on a country's economy.

Evaluate the impact of parental work schedules on family dynamics.

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Definitions:

Unemployment

The state of being without a job despite actively looking for work, measured as a percentage of the labor force.

Normative Economics

Normative economics deals with the evaluation of economic outcomes through the prism of what ought to be, recommending actions by what is deemed desirable or ideal.

Macroeconomics

The branch of economics that studies overall economic dynamics, including inflation, unemployment, and economic growth, on a national or global scale.

Rate of Unemployment

The proportion of people in the labor force who are unemployed and actively seeking work.