The amount that a firm receives from the sale of goods and services is called:
A. maximum profit.
B. profit.
C. total revenue.
D. total cost.
Answer: C
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Which of the following is a capital resource?
A. a piece of software used by a firm B. a corporate bond issued by a computer manufacturer C. a computer programmer D. silicon (sand) used to make computer chips
"Non-market-clearing" approaches to macroeconomics include
A) the original Keynesian model, but not the New Keynesian model. B) the New Keynesian model, but not the original Keynesian model. C) the original and New Keynesian models. D) neither the original nor the new Keynesian models.
A purchase of U.S. government securities by the Fed causes
A) an expansion of the money supply equal to the amount of the securities purchased. B) a contraction of the money supply equal to the amount of the securities purchased. C) an expansion of the money supply of more than the amount of the securities purchased. D) a contraction of the money supply of more than the amount of the securities purchased.
A cartel is an organization of firms in which there is a dominant firm which dictates price and output decisions to other member firms
a. True b. False Indicate whether the statement is true or false