In a market economy, government officials make most production decisions in a centralized manner
a. True
b. False
Indicate whether the statement is true or false
False
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Charlie's consumer surplus from the first slice of pizza he buys is greater than the consumer surplus from the second slice because of
A) decreasing marginal benefits. B) increasing marginal benefits. C) decreasing marginal costs. D) increasing marginal cost.
Under a floating exchange rate system with mobile international capital, it is always true that current account
a. deficit + capital account surplus = trade deficit. b. surplus ? capital account surplus = trade deficit. c. surplus + capital account deficit = 0. d. surplus ? capital account surplus = 0.
Net investment is:
A. what is left over from total new private investment after depreciation. B. the total amount of private investment purchases, whether new or previously existing. C. the total amount of new private investment purchases. D. gross investment plus depreciation.
In the short run, the perfectly competitive firm will always earn an economic profit when
A. P > ATC. B. P = MC. C. P = ATC. D. P > AVC.