Which of the Following Is an Example of a Semi-Fixed

question 51

Multiple Choice

Which of the following is an example of a semi-fixed (semi-variable) cost?

• A)Cost of telephone calls.
• B)Total telephone account, both calls and rental.
• C)Cost of telephone rental.
• D)None of the above

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Definitions:

Aggregate Demand

Refers to the total amount of goods and services demanded in the economy at a given overall price level and in a given time period.

Short-Run Aggregate Supply Curve

Represents the relationship between the total supply of goods and services produced by an economy and the price level for those goods and services in the short run.

Potential Output

The maximum output an economy can produce without causing inflation when all resources are fully employed.

Aggregate Demand Curve

A curve that illustrates the total demand for all goods and services in an economy at various price levels, assuming all other factors remain constant.