Economists assume that the goal of the firm is to maximize total
a. revenue.
b. profits.
c. costs.
d. satisfaction.
b
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The Q-theory of investment is based on high investments being funded by high stock prices of a company
Indicate whether the statement is true or false
Adam Smith believed that monopoly is the most efficient market structure.
Answer the following statement true (T) or false (F)
How does the text define economic efficiency? Is this an absolute or a relative definition? Would another type of definition be preferable? Why or why not?
A case study of NAFTA, with regard to the benefits for Canada from U.S. trade, found that:
a. Canada was not able to increase its exports due to barriers still remaining. b. Canada had modest gains but was harmed by immigration into the United States from Mexico. c. Canada had more trade diversion than trade creation and so was harmed overall. d. Canada had more trade creation than trade diversion and so benefited overall.