Marginal benefit curves slope ________ and marginal cost curves slope ________
A) upward; upward
B) upward; downward
C) downward; downward
D) downward; upward
D
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Which of the following is NOT considered capital?
A) an assembly line at a General Motors plant B) a computer used by your instructor for presentations in class C) stocks and bonds that are sold by Pepsico D) the furniture in the President's office E) a nail gun used for building houses
Country A produces 10 chairs and 6 tables using its resources. Country B produces 12 chairs and 18 tables. Determine the comparative advantage and the absolute advantage that both countries enjoy
What will be an ideal response?
According to the Keynesians,
a. an easy-fiscal tight-monetary policy reduces the trade deficit, such as what occurred during the 1980s. b. an easy-fiscal tight-monetary policy mix affects the composition of output by encouraging imports of foreign goods and discouraging U.S. exports, as was experienced during the 1980s. c. there was not a link between the rising government budgetary deficit and the rising trade deficit during the mid-1980s. d. budget deficits and trade deficits should not be a source of concern
When a profit-maximizing competitive firm finds itself minimizing losses because it is unable to earn a positive profit, this task is accomplished by producing the quantity at which price is equal to
a. sunk cost. b. average fixed cost. c. average variable cost. d. marginal cost.