In the above figure, assume d3 is the demand curve faced by this firm. Which is TRUE?
A) This firm is earning an economic profit.
B) This firm is experiencing an economic loss.
C) This firm is breaking even.
D) This firm's total revenues equal HRD0.
C
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Today, the United States charges an average tariff rate of less than 1.5 percent
Indicate whether the statement is true or false
A structural stagnation is a:
A. business cycle with smaller fluctuations around the trend. B. business cycle with greater fluctuations around the trend. C. slow expansion that involves slower growth than the previous long run trend. D. business cycle in which unemployment rises during the downturn and rises during the expansion.
Which of the following statements is correct?
A) Mrs. Lovejoy decides to invest in companies which she believes are producing their goods based on the preferences of consumers. Mrs. Lovejoy is therefore investing in companies that are allocatively efficient. B) Mrs. Lovejoy decides to invest in companies which she believes are producing their goods based on the preferences of consumers. Mrs. Lovejoy is therefore investing in companies that are productively efficient. C) Mrs. Lovejoy decides to invest in companies which she believes can produce their goods at the lowest possible cost. Mrs. Lovejoy is therefore investing in companies that are allocatively efficient. D) Mrs. Lovejoy decides to invest in companies which she believes can produce their goods at the lowest possible cost. Mrs. Lovejoy is therefore investing in companies that are both allocatively and productively efficient.
Assume that a painter produces 20 paintings this year and 20 paintings next year. What is the annual change in nominal GPD if the price of paintings rises from $1,000 this year to $1,500 next year? Can you conclude that the economy grew from this year
to next year based on your answer? Why? What will be an ideal response?