A firm's employment of labor outside the country in which the firm is located
A) is outsourcing.
B) shifts the supply of labor in the original country.
C) is the marginal revenue product.
D) shifts the supply of labor in the other country.
A
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The variables that determine a household's budget line are
A) its preferences and income. B) its preferences and prices. C) prices and income. D) None of the above are correct.
Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is accounting profit for Tommy's Teddy Bears?
A) $250,000 B) $300,000 C) $500,000 D) $1.35 million
A financial innovation that developed as a result of banks avoidance of bank branching restrictions was
A) money market mutual funds. B) commercial paper. C) junk bonds. D) bank holding companies.
According to the "animal spirits" described by Keynes, when optimism reigns, households and firms
a. increase spending which results in inflationary pressures. b. decrease spending which results in deflationary pressures. c. increase spending which results in deflationary pressures. d. decrease spending which results in inflationary pressures.