The major source of production in the economy comes from:
A. sole proprietorships.
B. conglomerates.
C. partnerships.
D. corporations.
Answer: D
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The economy's Current Account measures primarily
a. sources and uses of current income b. income and outflow of payments for goods and services c. tax receipts and government spending d. changes in foreign exchange holdings e. none of the above
When the marginal revenue resulting from a decrease in price is negative, demand for the product is:
A) elastic. B) unit elastic. C) inelastic. D) cannot be determined without more information.
Assuming the firm in the graph is producing Q1 and charging P3, it is likely:
These are the cost and revenue curves associated with a firm.
A. in long-run equilibrium.
B. an efficient outcome.
C. not maximizing profits.
D. operating at a loss.
Macroeconomic equilibrium is always good, because:
a. Because it is the only place where planned demand equals planned supply. b. Actually, macroeconomic equilibrium can be either good or bad. It is not always good. c. All of the above. d. None of the above. e. Because it is the only place where actual demand equals actual supply.