Which is the single most important source of U.S. economic growth?
A. Stability of the sociocultural-political environment.
B. Increases in labor productivity.
C. Improvement in the legal and human environment.
D. Increases in the quantity of labor.
Answer: B
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Asymmetric information problems are less severe the __________ the borrowing firm, since there is __________ publicly available information about those firms
A) larger; more B) larger; less C) smaller; more D) smaller; less
Exhibit 8-11 A firm's cost and marginal revenue curves
In Exhibit 8-11, when the price is $2, the profit-maximizing (or loss-minimizing) firm:
A. should shut down and produce zero. B. should produce output equal to 4. C. is making an economic profit of $8. D. should try to produce more output.
The primary objective of an imperfectly competitive firm is to:
A. maximize profit. B. charge the highest possible price. C. minimize total cost. D. maximize total revenue.
What is the new common currency used by many members of the European Union?
A. Pound B. Eurodollar C. Euro D. Mark