We assume that firms, when they are deciding the best rate of output at which to produce
A) try to get the highest price possible.
B) want to maximize sales.
C) want to minimize costs.
D) want to maximize profits.
D
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Adjustments in ________ take the economy from the short-run equilibrium to the long-run equilibrium
A) imports and exports B) wages and prices C) the multiplier D) interest rates
Pineapple growing is a perfectly competitive industry. How does the market demand curve for pineapples compare to the demand curve for an individual pineapple grower?
What will be an ideal response?
Because of assortative mating, wealth becomes ________ and the distribution of wealth becomes more ________
A) more concentrated in a small number of families; equal B) more concentrated in a small number of families; unequal C) spread out among more families; equal D) spread out among more families; unequal
Everything else held constant, when a country's currency appreciates, the country's goods abroad become ________ expensive and foreign goods in that country become ________ expensive
A) more; less B) more; more C) less; less D) less; more