The _______ is (are) responsible for fiscal policy, and the ______ is (are) responsible for monetary policy.

The most important member of the Federal Reserve’s Board of Governors is the

In the circular flow model, businesses

The three basic types of businesses in the United States are

A sole proprietorship is a business form in which

If the total cost of producing 6 units is $228 and the total cost of producing 7 units is $245, what is the marginal cost of producing the seventh unit?

____ are goods that are available free to all consumers once they are produced.

An import constitutes a

A situation where bad quality drives good quality out of a market is known as

Table 1.1 Total Output (Q) Total Cost (TC) 0 1 2 3 4 5 6 7 8 1,000 2,000 2,800 3,500 4,000 4,500 5,200 6,000 7,000 Refer to Table 1.1. Average total cost (ATC) at 8 units of output is $___