Which of the following was a major consideration that underlay the establishment of the European Economic Community?
Ans: The need for a united Europe to deal with the United States and the politically alien Soviet Union
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Based on the above information, at what price does the firm consider shutting-down?
a. $45 b. $ 40 c. $95 d. $85
As more firms enter the market,
a. individual firms produce more b. advertising increases c. demand curves become more elastic d. demand curves become more inelastic e. cross elasticities among the goods in the market decrease
For the following changes in the economy, indicate whether short-run aggregate supply or long-run aggregate supply will be affected. Indicate the direction of the change
a. an improvement in manufacturing technology b. an increase in the world price of antimony (a chemical that the U.S. imports) c. a bumper potato crop in the southern "potato belt"
Which of the following is an example of physical capital?
a. the strength of workers b. on the job training c. financial assets like cash and bonds d. the equipment in a factory