If a firm does not sell all of the goods that it produces in a given time period, then the goods
A) do not count in GDP for that time period but always count next period.
B) do not count in GDP ever.
C) count in GDP the period they are sold to the final user.
D) count negatively in GDP as inventory investment.
E) count positively in GDP as inventory investment.
E
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A firm purchases a factor of production in a competitive market. At the current purchase rate the MRP of the factor is greater than the marginal expenditure for the factor. Thus, the firm
A) can increase profit by reducing the employment of the factor of production. B) is now maximizing profit. C) should not use this factor of production because it has no potential in generating a profit. D) can increase profit by expanding the employment of the factor of production.
Unexpected discoveries of mineral reserves will ordinarily cause the price of these minerals to increase
a. True b. False Indicate whether the statement is true or false
The horizontal summation of individual demand curves gives the market demand curve for a public good
a. True b. False Indicate whether the statement is true or false
The Federal Open Market Committee (FOMC) meets on the first Tuesday of each month
Indicate whether the statement is true or false