If a farmer charges $10 for a bushel of corn and her total revenue is $50, how many bushels did she sell?
a. 5
b. 40
c. 60
d. 500
a. 5
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In a pure flexible exchange rate system, deficits and surpluses in the balance of payments: a. are accommodated by financial borrowings. b. are accommodated by reserve movements. c. tend to disappear automatically
d. either b. or c.
Sally lost her job when her company went out of business because of a recession. This is an example of:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. technological unemployment.
The "principle of rival consumption" applies to which of the following?
A) national defense B) the free-rider problem C) the exclusion principle D) a private good
A conspiracy among firms to fix prices was outlawed by the Sherman Antitrust Act
a. True b. False Indicate whether the statement is true or false