Supplies of drinking water depend on
a. ground water
b. surface water
c. water resources protected by the Clean Water Act
d. all of the above
e. none of the above
d. all of the above
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Suppose a perfectly competitive firm can produce 20,000 bushels of corn a year at an output at which marginal cost equals marginal revenue. The market price of corn per bushel is $2.00
The firm's total costs per year are $50,000 and fixed costs per year are $25,000. In the short run, this firm should A) shut down. B) continue producing until the price of corn increases. C) produce 20,000 bushels of corn because, although they are losing money, they are losing less than if they shut down. D) produce 40,000 bushels to try to increase economic profit.
The U.S. dollar is the most important reserve currency in the world
a. True b. False Indicate whether the statement is true or false
Pete's Package Delivery Service currently makes deliveries only within the state, but now decides to expand the scale of its operation by serving the neighboring state as well. It is likely to find
a. total variable costs decline as diminishing returns set in b. total fixed costs decline as more trucks cover a wider area c. total variable costs rise as more fuel and drivers are needed d. the price of hiring a worker falls as more workers are hired e. profits rise as total costs remain constant
Exhibit 16A-3 Macro AD/AS Model
As shown in Exhibit 16A-3, assume the marginal propensity to consume MPC equals 0.80. Using discretionary fiscal policy, federal government spending should be _________ in order to restore the economy from E1to full employment.
A. increased by $2 trillion B. decreased by $2 trillion C. decreased by $.40 trillion D. increased by $.80 trillion