If ATC > P, then a profit-maximizing, monopolistically competitive firms earns ________ economic profits.
A. negative
B. zero
C. positive
D. either positive or negative
Answer: A
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The balance of payments includes which three accounts?
A) the current account, the financial account, and the capital account B) the net investment account, the net exports account, and the net transfers account C) the balance of trade account, the net foreign investment account, and statistical discrepancy D) the capital flows account, the financial account, and the trade account
Is there a difference between the "true burden" of a tax and who is legally required to pay a tax? Briefly explain
What will be an ideal response?
If a union is able to restrict the supply of a non-union-made substitute product,
a. wages will increase but employment will decrease b. wages will increase and employment will increase c. wages will decrease but employment will increase d. wages will decrease and employment will decrease e. the demand for non-union labor will increase
If U.S. real GDP grew from $12 trillion one year to $12.7 trillion the next, the annual growth rate would be:
A. 94.4 % B. 5.5 % C. 105.8 % D. 5.8 %