A. the production possibilities curves of such nations are more bowed out from the origin. B. the production possibilities curves of such nations have shifted inward. C. the production possibilities curves of such nations have shifted outward. D.
these nations are operating at some point outside of their production possibilities curves.
A. have a less concave production possibilities curve.
B. produce at some point closer to its production possibilities curve.
C. be able to produce at some point outside of its production possibilities curve.
D. produce more consumer goods and fewer investment goods.
Answer: B
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Which one of the following statements is TRUE for Norway, a non-euro country?
A) Of course, owners of capital that cannot be moved cannot avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is open to capital flows. B) Even owners of capital that cannot be moved can avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is open to capital flows. C) Owners of capital that cannot be moved can avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is closed to capital flows. D) Even owners of capital that can be moved can avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is closed to capital flows. E) Only owners of capital that can be moved can avoid more of the economic stability loss due to fixed exchange rates when Norway's economy is open to capital flows.
If Q represents a firm's level of output, W represents the wage paid to labor (L) and R is the cost of capital (K), then which of the following represents the firm's isocost line?
A. C = FC + VC(Q) B. C = FC(Q) + VC(Q) C. C = WL + RK D. C = (W + R)Q
Suppose a lazy monopolist's fixed costs are lower than the fixed costs of an efficient monopolist. In all other respects, the monopolists are the same. Which of the following statements about this monopolist is true?
A. It charges a higher price than the monopolist producing efficiently. B. It charges a lower price than the monopolist producing efficiently. C. It produces less than the monopolist producing efficiently. D. Its total revenue is the same as the monopolist producing efficiently.
"Economic profits are less than or at most equal to accounting profits." Do you agree or disagree? Explain
What will be an ideal response?