The real rate of interest is the ______ rate of interest minus the anticipated inflations
Fill in the blank(s) with the appropriate word(s).
Nominal
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Which of the following statements about implicit costs is true?
A. They measure the forgone opportunities of the firm's owners. B. They exceed explicit costs. C. They are always fixed. D. They do not enter into the calculation of economic profit.
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $50?
A. 5 B. 3 C. 2 D. 1
Selling a product at a price below its cost is known as dumping
Indicate whether the statement is true or false
The ceteris paribus assumption is important to use when building economic models
Indicate whether the statement is true or false