If a firm's marginal cost exceeds its average cost, then its average cost must be rising
a. True
b. False
Indicate whether the statement is true or false
True
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"As part of the financial crisis bailout plan in 2008, the Federal Reserve should not bail out banks that made risky loans." This is an example of
A) a positive statement. B) the Federal Reserve taking actions that are not at the margin. C) opportunity costs. D) a normative statement.
With the increasing normalization of relations with China, more and more Chinese goods appear on the U.S. market. Haven't you noticed it? If we buy more from China than China buys from us, then
a. the Chinese currency (the yuan) appreciates and we have an unfavorable balance of trade with China b. the Chinese currency (the yuan) depreciates and we have an unfavorable balance of trade with China c. the Chinese currency (the yuan) appreciates and we have a favorable balance of trade with China d. our balance of payments becomes increasingly negative e. our balance of payments becomes increasingly positive
According to Piketty, economic history is the story of a race between:
a. capital accumulation b. population growth c. technological progress d. all of the above e. a and c only
Does voluntary exchange create wealth (value)?
What will be an ideal response?