In 2012, foreign ownership of the total public debt of the U.S. was about:
A. 20%
B. 33%
C. 60%
D. 75%
B. 33%
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Use the following figure showing the domestic demand and supply curves for product B in a hypothetical economy to answer the next question.
After trade, at a world price of Pw, the net gain of producer surplus equals area(s)
A. B + C. B. D. C. A + B + C + D. D. B + C + D.
When marginal revenue product of an input is less than its price, the producers should use less of the input.
Answer the following statement true (T) or false (F)
You are at a restaurant deciding if you would like some dessert after the meal. The dinner is over so you do not want anything else but the dessert. The opportunity cost of getting the dessert would include
a. Nothing, because you are already there b. Another round of appetizers possibly c. Anything else you could buy d. None of the above
A firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55 . At what price does the firm consider shutting-down in the long run?
a. $45 b. $40 c. $95 d. $55