Fill in the blank: Your textbook authors suggest ________ is the goal of a price-searching firm
A) just getting by
B) maximizing sales
C) maximizing net revenue
D) maximizing total revenue
E) maximizing the markup
C
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Explain what the phrase "price rationing" means
What will be an ideal response?
If the exchange rate changes from $1.45 = 1 euro to $1.37 = 1 euro, then
A) both the euro and dollar have appreciated. B) the euro has appreciated and the dollar has depreciated. C) the euro has depreciated and the dollar has appreciated. D) both the euro and dollar have depreciated.
The aggregate production function is an equation that shows the relationship between ________ and ________
A) the inputs employed by firms; the maximum output firms can produce with those inputs B) the inputs employed by an individual firm in an economy; the average of the inputs employed by all firms in an economy C) the output produced by an individual firm in an economy; the average of the output produced by all firms in an economy D) the average level of capital used in production in an economy; the average level of labor used in production in an economy
Holding other factors constant, increasing the availability of disability benefits would likely
A) decrease cyclical unemployment and the natural rate of unemployment. B) increase structural unemployment and the natural rate of unemployment. C) increase frictional unemployment and the natural rate of unemployment. D) decrease the natural rate of unemployment.