Bonnie is a self employed. She makes floral arrangements in a building she rents. She owns the delivery vehicle and has hired a delivery driver. She is an example of
A. entrepreneurial ability.
B. human capital.
C. physical capital.
D. labor.
Answer: A
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In the short run, firms expand their production when the price level rises because
A) the money wage rate remains constant so the higher prices for their products makes it profitable for firms to expand production. B) each firm must keep its production up to the level of its rivals, and some firms will expand production as the price level increases. C) the higher prices allow the firm to hire more workers by offering higher wages, thereby increasing productivity and profits. D) firms can increase their profits by increasing their maintenance.
If net interest and net transfers are $0, and a nation's purchases of foreign goods and services are $3.5 billion while its sales of goods and services to foreigners are $4.5 billion
A) it has a $1 billion surplus in its balance of payments. B) it has a $1 billion deficit in its current account. C) it has a $1 billion surplus in its current account. D) its capital and financial account shows a surplus.
Higher saving is associated with
a. a larger capital stock and higher productivity. b. a larger capital stock but not higher productivity. c. higher productivity but not a higher capital stock. d. neither a higher capital stock nor higher productivity.
The formula for ________ is TFC/q.
A. average fixed costs B. total cost C. average total cost D. total variable costs