High profits in a particular industry indicate that consumers want more of that industry's goods.
Answer the following statement true (T) or false (F)
True
High profits in a particular industry indicate that consumers want a different mix of output (more of that particular industry's goods).
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The above figure shows the marginal benefit and marginal cost curves for a public good. The efficient quantity is
A) A. B) B. C) C. D) zero units supplied.
A falling dollar makes U.S. goods
A) more expensive abroad and increases the volume of U.S. exports. B) less expensive abroad and increases the volume of U.S. exports. C) less expensive abroad and decreases the volume of U.S. exports. D) more expensive abroad and decreases the volume of U.S. exports.
A Keynesian econometric model is likely to emphasize that monetary policy affects economic activity through changes in
A) the money supply. B) reserve requirements. C) interest rates. D) currency holding by the public.
Assume an economy produces only footballs and baseballs and the base year is 2016. Quantities ProducedPrices?2016201720162017Hamburgers200300$20$25Hot dogs500600$10$15Given the data in the table above, what is the value of nominal GDP in 2017?
A. $10,000 B. $12,500 C. $16,500 D. $12,000