The U.S. provides about _____ percent of the annual membership fees of IMF member countries
a. 5.6
b. 10.2
c. 15.3
d. 17.3
e. 22.4
d
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When a competitive equilibrium is achieved in a market
A) the total net benefit to society is maximized. B) the total benefits to consumers are equal to the total benefits to producers. C) economic surplus equals the deadweight loss. D) all individuals are better off than they would be if a price ceiling or price floor was imposed by government.
Which of the following is the best example of a short-run adjustment?
A) Toyota builds a new assembly plant in Texas. B) Smith University completed negotiations to acquire a large piece of land to build its new library. C) Your local Wal-Mart hires two more associates. D) A local bakery purchases another commercial oven as part of its capacity expansion.
Investing in risky assets in the hope of earning profits is called speculation
a. True b. False Indicate whether the statement is true or false
Which of the following is not true when the firm experiences diminishing marginal product?
A. The total product is decreasing. B. The marginal product of the previous worker is higher than the current worker. C. The firm is operating in the short run. D. The firm's total cost is increasing.