A perfectly competitive firm maximizes its profits by producing the amount of output such that
A) MR = P.
B) MR = MC.
C) P = AVC.
D) P = ATC.
B
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Under a fixed exchange rate system, at low domestic real interest rates net capital outflows are ________, so the central bank ________ foreign-exchange reserves
A) positive; acquires B) positive; loses C) negative; acquires D) negative; loses
If TruLite's management studied the light fabrication department and found that the department should assemble 25 lamps per hour per worker and set its piece rate to get workers to meet output level, then this standard is called the:
A. incentive adjustment. B. random element of production. C. risk premium. D. benchmark.
A market supply curve shows how the total quantity supplied of a good varies as
a. production technology varies. b. price varies. c. input prices vary. d. demand varies.
Which of the following most closely represents the share of total U.S. income that flows to the poorest 20 percent of all U.S. households?
a. 49 percent b. 23 percent c. 15 percent d. 4 percent