By comparing the marginal revenue and marginal cost from each unit produced, a firm in a competitive market can determine the profit-maximizing level of production
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in the budget deficit
a. raises net exports and domestic investment. b. raises net exports and reduces domestic investment. c. reduces net exports and raises domestic investment. d. reduces net exports and domestic investment.
For conservatives, the United States needs
A. an expanded public sector to protect consumers. B. a smaller public sector and less regulation. C. a larger tax rate and more government spending. D. more public goods and services, such as national health care.
Bethany notices that whenever she receives a text message, her roommate Stella is playing her tuba. She concludes that Stella's tuba playing is causing her to receive text messages. Bethany is
A. likely correct that there is causation, but the causation is more likely running in the opposite direction in that the text messages are causing Stella to play the tuba. B. probably misguided in that there is no apparent correlation or causation in this situation. C. very probably correct in her conclusion that the tuba playing causes her to receive text messages. D. definitely confusing correlation with causation.
Policies designed to promote import substitution often encouraged labor-intensive production methods, which encouraged the creation of jobs.
Answer the following statement true (T) or false (F)