A budget surplus occurs when government receipts exceed government spending
a. True
b. False
Indicate whether the statement is true or false
True
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For monopoly
A) the four-firm concentration ratio is 100. B) the Herfindahl-Hirschman Index is 10,000. C) there is only one firm in the industry. D) All of the above answers are correct.
The steam engine was first invented by
a. Heron of Alexandria b. James Wyatt c. Robert Fulton d. Denis Papin
When a government intervenes to achieve a surplus in the nation's balance of trade, this action is consistent with the main tenet of ______
Fill in the blank(s) with the appropriate word(s).
To produce more output in the short run, a firm must employ more of
A) all its resources. B) its fixed resources. C) its variable resources. D) the least costly resources regardless of whether they are fixed or variable. E) Firms cannot produce more output in the short run.