Refer to the above figure. What is the socially optimal point of production?
A) P1 and Q1.
B) P4 and Q1.
C) P1 and Q4.
D) P3 and Q2.
D
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The market supply curve of labor is
a. upward sloping b. perfectly inelastic c. upward sloping at first but then bends backward d. downward sloping e. perfectly elastic
All of the following is likely to increase the supply of U.S. dollars in the forex market except?
A. If U.S. interest rates are low relative to foreign interest rates B. If investors' confidence in foreign economies increases C. If U.S. consumers prefer foreign goods to U.S. goods D. If investors’ confidence in US investments increases.
In economics, which of the following is considered as financial capital?
a. Offices and warehouses b. Stocks and bonds c. Machinery d. Factories e. Equipment
A theory is
A) built on the major factors or variables that the theorist believes explain some event. B) a simplified abstract representation of the real world. C) used to understand the real world. D) a and b E) a, b, and c