A firm must earn an economic profit in order to receive a normal rate of return.
Answer the following statement true (T) or false (F)
False
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If inventory investment during a year was minus $6 billion, producers must have
a. produced only $6 billion of new capital assets during the year. b. sold $6 billion more goods and services during the year than they produced. c. added goods valued at $6 billion to their stock of unsold goods and raw materials. d. produced new capital assets that exceeded the depreciation allowance by $6 billion.
If a small country imposes a tariff on an imported good, domestic sellers will gain producer surplus, the government will gain tariff revenue, and domestic consumers will gain consumer surplus
a. True b. False Indicate whether the statement is true or false
If the nominal interest rate is 5 percent and the rate of inflation is 9 percent, then the real interest rate is
a. -4 percent. b. -0.44 percent. c. 4 percent. d. 14 percent.
The players of prisoner's dilemma-type games:
A. have a dominant strategy to never cooperate. B. would be much better off if they could cooperate. C. have an incentive to never cooperate. D. All of these statements are true.