Because a firm has implicit costs as well as explicit costs
A) its accounting profit is always less than its economic profit.
B) its economic profit is usually the same as its accounting profit.
C) its economic profit is usually less than its accounting profit.
D) its economic profit is usually more than its accounting profit.
C
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Refer to the figure below. Assume demand remains unchanged at D1. If supply shifts from S2 to S1, then the equilibrium price will ________ and the equilibrium quantity will ________. 
A. rise; rise B. rise; fall C. fall; fall D. fall; rise
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
If the Mexican government wants to keep the peso overvalued against the dollar, it will need to:
A) sell both dollars and pesos. B) buy both dollars and pesos. C) sell pesos and buy dollars. D) buy pesos and sell dollars.
In the United States in 2014, about ________ of uninsured people live in families in which at least one member has a job
A) 12%. B) 38%. C) 70%. D) 98%.