In the short run, a perfectly competitive firm may earn economic profits that are
a. positive.
b. positive but very small.
c. negative.
d. all of the above.
D
You might also like to view...
Which of the following statements is true regarding Temporary Assistance to Needy Families (TANF)?
a. States set the level of welfare benefits they will provide to the poor, and the federal government guarantees some support. b. Since TANF began, the number of needy families receiving benefits has almost doubled. c. Federal dollars are fixed for each state, which may use the money for any antipoverty programs as long as there is a work requirement. d. The federal government’s welfare spending rises and falls depending on how each state sets its welfare contributions.
In a barter economy that had no form of currency, how could interest exist?
The recognition that _____ plays a profound role in many developing nations has led to more attention to this factor when choosing an exchange rate regime.
A) poverty B) illiteracy C) currency mismatch due to liability dollarization D) government corruption
Increased present saving:
A. comes at the expense of reduced current investment. B. comes at the expense of reduced current consumption. C. can only occur if the government increases the amount of money in circulation. D. is only possible if the economy is experiencing positive growth in real GDP.