To a firm in perfect competition, price and marginal revenue are equal
Indicate whether the statement is true or false
True
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Refer to the table above. What will be the value of the gross domestic product of the country if the country runs a trade surplus of $30,000 next year, everything else remaining unchanged?
A) $378,000 B) $372,000 C) $407,000 D) $524,000
Over the past year, an economy's labor supply increased from 100 to 102, its capital stock increased from 1000 to 1030, and its output increased from 500 to 525. All measurements are in real terms
Calculate the contributions to economic growth of growth in capital, labor, and productivity if aK = 0.2 and aN = 0.8.
When a factory is operating in the short run,
a. it cannot alter variable costs. b. total cost and variable cost are usually the same. c. average fixed cost rises as output increases. d. it cannot adjust the quantity of fixed inputs.
Which of the following can increase the number of pizzas a seller is willing to sell at a given price?
A. The amount of subsidies that pizza makers receive from the government decreases. B. A new technology is developed that allows producers to make the same sized pizza using less cheese and dough. C. The cost of inputs such as pepperoni and cheese goes up. D. The number of workers working in the pizza factory decreases.