In the long run, if the output of a firm is zero then its total cost will be equal to its total fixed cost
a. True
b. False
Indicate whether the statement is true or false
False
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If a country's imports of goods and services exceeds its exports, ________.
A. GDP equals the sum of consumption, investment, and government purchases B. net exports are positive C. GDP is less than the sum of consumption, investment, and government purchases D. GDP exceeds the sum of consumption, investment, and government purchases
The absence of freedom of entry and exit is key to fact that there is no pressure for economic profit to go to zero under
A. perfect competition and monopolistic competition. B. oligopoly and monopoly. C. monopoly and monopolistic competition. D. monopoly and Perfect competition.
In a perfectly competitive market, consumer surplus typically is
A) positive. B) negative. C) zero. D) undefined.
Briefly explain each of the following terms: a. Forward exchange rateb. Foreign exchange swapc. Arbitraged. Triangular arbitrage
What will be an ideal response?