Firms are the producing units of the economy.
Answer the following statement true (T) or false (F)
True
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A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.
Import controls that can help a government maintain a fixed exchange rate, which if left to the foreign exchange market would depreciate, are
a. lowering tariffs and increasing quotas so that more international trade occurs b. raising tariffs and decreasing quotas so that its country's demand for foreign exchange decreases c. requiring exporters to turn over their foreign exchange to the government at a fixed exchange rate d. having the IMF loan the government enough foreign exchange to get through the crisis e. causing a devaluation of the nation's currency so that exports rise and imports fall
Based on the graph showing the effects of a government budget surplus, how would a budget surplus affect the equilibrium quantity of loanable funds exchanged?
a. It would create a higher equilibrium quantity of loanable funds exchanged.
b. It would create a lower equilibrium quantity of loanable funds exchanged.
c. It would have no influence on the equilibrium quantity of loanable funds exchanged.
d. It would drive the equilibrium quantity of loanable funds exchanged to zero.
The increased willingness of women to enter the workforce has most likely lead to what outcome in the labor market?
a. an increase in labor demand and higher real wages. b. an increase in labor supply and higher real wages. c. an increase in labor supply and high real wages. d. a decrease in labor demand and lower real wages. e. none of the above.