Marc puts prices on surfboards and skateboards at his sporting goods store. He is using money as a unit of account
a. True
b. False
Indicate whether the statement is true or false
True
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All of the following are factors that will shift the supply curve except
A) a change in production technology. B) changing tastes and preferences. C) a change in the price of substitutes in production. D) a change in the number of producers.
Macroeconomics is the study of
A) the economic issues which affect individual well-being and individual firms' profit levels. B) the economic issues which affect foreign and domestic prices of related goods and services. C) inflation and poverty at the level of the household. D) the economic issues which affect the nation's total income, employment, and output.
The short-run cost function is:
a. where all inputs to the production process are variable b. relevant to decisions in which one or more inputs to the production process are fixed c. not relevant to optimal pricing and production output decisions d. crucial in making optimal investment decisions in new production facilities e. none of the above
If exports exceeded imports it would be called a trade __________.
Fill in the blank(s) with the appropriate word(s).