The assumption that firms meet the demand for their products at preset prices is the key assumption upon which ________ is built.
A. the supply and demand model
B. the basic Keynesian model
C. Say's Law
D. quantity equation for money
Answer: B
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According to the materials balance model
a. recycling permanently eliminates residuals b. only production can damage the environment c. residuals arise from both consumption and production d. only households undertake recycling and reuse
Starting in 2008 and continuing into 2012, the Japanese yen kept appreciating against the U.S. dollar, hurting Japanese exports to the U.S
Indicate whether the statement is true or false
HydroGrow is considering building a new greenhouse in which to grow tomatoes. The board meets and decides that this is the right thing to do. Before they can put their plans into action, the interest rate increases. The present value of the returns from this investment project
a. is now lower than it was before, and so Hydro Grow is less likely to build the building. b. is now lower than it was before, and so HydroGrow is more likely to build the building. c. is now higher than it was before, and so HydroGrow is less likely to build the building. d. is now higher than it was before, and so HydroGrow is more likely to build the building.
2A fixed cost is
A. a cost the firm must pay even if output is zero. B. a cost which increases in a fixed proportion as output increases. C. the cost of any input with a fixed price per unit. D. both b and c E. all of the above