According to the graph shown, producing 9 units earns profits that are:
A. higher than output of 11 units, and the firm should increase production.
B. higher than output of 11 units, and the firm should decrease production.
C. lower than output of 11 units, and the firm should increase production.
D. lower than output of 11 units, and the firm should decrease production.
Answer: C
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Which of the following is NOT part of the FOMC directive?
A) It lays out the FOMC's general economic objectives. B) It specifies target ranges for money supply growth. C) It establishes short-term federal funds rate objectives. D) It specifies who the chair of the Fed is.
Antonio's makes the greatest pizza and delivers it hot to all the dorms around campus. Last week Antonio's supplier of pepperoni informed him of a 25% increase in price. Which variable determining the position of the supply curve has changed and what effect does it have on supply?
a. future expectations; supply decreases b. future expectations; supply increases c. input prices; supply decreases d. input prices; supply increases
Make a case for income inequality.
What will be an ideal response?
The Solow residual is a measure of
A) average labor productivity. B) average capital productivity. C) total factor productivity. D) the rate of growth of real GDP.