A payment over and above that necessary to call forth a resource is called
a. profit
b. rent
c. taxes
d. salary
e. welfare
B
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Unregulated natural monopolies:
A. never capture lowest costs per unit possible. B. can capture profits by restricting output. C. create no problems for policy-makers. D. are always protected by government policy.
The dollar return on a foreign investment is less than the interest rate on the foreign asset, if the foreign currency depreciates against the U.S. dollar between the purchase date and the maturity date
a. True b. False Indicate whether the statement is true or false
Exhibit 8-18 A typical firm in a perfectly competitive market
As shown in Exhibit 8-18, the perfectly competitive firm is in long-run equilibrium at a price of:
A. $100. B. $200. C. $300. D. $400.
Aggregate expenditure equals
a) C+I+G+X-M b) C+I+G+X+M c) C+I+G d) C+I+G+X