An appreciation of the dollar makes imported inputs cheaper and shifts the U.S. aggregate supply curve outward, thus pushing American prices down.
Answer the following statement true (T) or false (F)
True
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A real option can present management with the opportunity to
A) vary output. B) abandon a project. C) postpone a project. D) All of the above
Which of the following is likely to result in a lower equilibrium price? a. An increase in both demand and supply
b. A decrease in both demand and supply. c. An increase in demand and a decrease in supply. d. A decrease in demand and an increase in supply.
Tariffs result in a decrease in consumer surplus because: a. the price and the quantity consumed of the protected good increases
b. the price and the quantity consumed of the protected good decreases. c. the price of the protected good increases and quantity consumed decreases. d. the price of the protected good decreases and quantity consumed increases.
Total profit = Total revenue ? Total cost (including opportunity cost). Total profit defined in this way is called
a. accounting profit. b. economic profit. c. absolute profit. d. relative profit.