Real wealth changes with
A. disposable income.
B. consumption.
C. the price level.
D. GDP.
Answer: C
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The relocation of service industry functions to another country is called what?
What will be an ideal response?
If firms are required to pay the social costs of a negative externality, they would produce more of the good causing the externality
a. True b. False Indicate whether the statement is true or false
Arbitrage is the purchase of foreign currency on one market for immediate resale on a foreign market in order to profit from a price discrepancy.
a. true b. false
Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $700; AVC = $500; MC = $600; MR = $600. The firm should
A. increase output. B. decrease output. C. shut down. D. continue to produce its current output.