If a perfectly competitive firm's average total cost curve is above its demand schedule at every level of output, then the firm will earn ________ profits.
A. positive
B. break-even
C. zero
D. negative
Answer: D
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Consumption expenditures do NOT include purchases of
A. durable goods. B. services. C. nondurable goods. D. intermediate goods.
If a negative externality is associated with burning firewood:
A. less than the efficient amount of firewood for burning will be used each year. B. the marginal social cost of burning firewood falls short of its price. C. the marginal social cost of burning firewood exceeds the price of burning firewood. D. the marginal social cost of burning firewood is exactly equal to its price.
Federal Spending in 2016 was
A. $4 billion. B. $400 trillion. C. $40 trillion. D. $4 trillion.
At a 3.5 percent annual growth rate it would take 20 years for GDP per capita to double
Indicate whether the statement is true or false