For a monopoly earning positive economic profits at the profit-maximizing output level, all of the following are true EXCEPT
A) P > ATC.
B) P > MR.
C) P > MC.
D) P = MR.
D
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Net exports equals
A) exports of goods and services minus imports of goods and services. B) imports of goods and services minus exports of goods and services. C) the government sector balance plus the private sector balance. D) Both answers A and C are correct.
As more capital per worker is added, a per worker production function generally becomes:
a. flatter because capital is subject to diminishing marginal returns. b. flatter because labor is subject to diminishing marginal returns. c. flatter because capital is subject to increasing marginal returns. d. steeper because capital is subject to diminishing marginal returns.
The net exports adjustments in aggregate demand includes
A. capital inflows minus capital outflows. B. capital outflows minus capital inflows. C. the sum of exports minus imports. D. the sum of imports minus exports.
What are the effects of migration on the real wages and output of a low-wage nation and a high-wage nation? What are the simplifications used to analyze these effects?
What will be an ideal response?