Table 9-1
Output
Consumption
Investment
Net Exports
1,000
800
500
100
1,500
1,200
500
100
2,000
1,600
500
100
2,500
2,000
500
100
3,000
2,400
500
100
3,500
2,800
500
100
4,000
3,200
500
100
?
In Table 9-1, inventories will be increasing as long as output is above
A. 1,000
B. 1,500
C. 2,000
D. 3,000
Answer: D
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Answer the following statement true (T) or false (F)
A patent protects an inventor's creation from being copied or stolen for a period of
A. 100 years. B. 14 years. C. 20 years. D. 30 years.
Falling interest rates can
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The above figure illustrates a firm's total revenue and total cost curves. Which one of the following statements is FALSE?
A) Economic profit is the vertical distance between the total revenue curve and the total cost curve. B) At output Q1 the firm makes zero economic profit. C) At an output above Q3 the firm incurs an economic loss. D) At output Q2 the firm incurs an economic loss.