If MR = MC, then TR and TC differ by a maximum if positive profits are earned
Indicate whether the statement is true or false
T
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In the above figure, if the real interest rate is 6 percent, the quantity of loanable funds demanded is
A) $150 billion. B) $300 billion. C) $450 billion. D) $600 billion.
The law of comparative advantage indicates that
a. specialization and exchange will permit trading partners to maximize their joint output. b. a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods. c. a nation can gain from trade only when its trading partners are not low-wage countries. d. countries should export products for which they are high-opportunity cost producers.
In response to the deep economic downturn in the US in 2008 and 2009, the US
a. reduced taxes. b. increased government spending. c. increased the supply of money. d. All of the above are correct.
If there is an unrest in Europe that threatens the economic stability of Turkey, the
A. supply of the Turkish currency will fall. B. demand for the Turkish currency will fall. C. demand for the Turkish currency will rise. D. supply of the Turkish currency will rise.