Which of the following statements is not characteristic of a perfectly competitive industry in long-run equilibrium?Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
a. A profit-maximizing firm may produce any output level at which P < LRATC.
b. Every firm produces at an output level at which MC = LRATC
c. Ceteris paribus, there is no tendency for firms to either enter or exit the industry.
d. No firm earns an economic profit.
a
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China has intervened in the foreign exchange market to maintain the value of its currency vis-à-vis other countries
Indicate whether the statement is true or false
With specialization in a market economy, individual:
A. Firms produce a wide range of products B. Producers consume little or none of the products they produce C. Producers consume most of the output that they produce D. Consumers have to produce most of what they consume
Which of the following is TRUE of the portion of the net public debt held by foreign residents?
A. It will be a burden on future generations of U.S. residents only if funds that the U.S. government obtains from borrowing are expended on projects with rates of return lower than the rates of interest that the government pays foreign residents. B. It will be a benefit to future generations of U.S. residents only if funds that the U.S. government obtains from borrowing are expended on projects with rates of return lower than the rates of interest that the government pays foreign residents C. It will definitely be a burden on current and future generations of U.S. residents who will have to pay interest on this portion of the debt, thereby transferring a portion of future U.S. incomes abroad. D. It will definitely be a benefit to current and future generations of U.S residents, because foreign residents have shown a willingness to lend to the U.S. government in exchange for rates of return significantly lower than they can receive elsewhere in the world.
The federal spending appropriation for Transportation projects in the Fiscal Year 2016 was
A. $179 billion. B. $1,979 billion. C. $979 billion. D. $92 billion.