Straight-line production-possibility curves indicate that the opportunity cost of producing additional units of each good is constant.
Answer the following statement true (T) or false (F)
True
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Which of the following would not be studied in microeconomics?
A. How an early freeze in California will affect the price of fruit. B. Whether the federal budget should be balanced. C. Whether to study or watch TV tonight. D. How individual firms decide how much to produce.
When a Chinese company builds an auto plant in the United States, the immediate result of this Chinese investment in the United States is a ________ item in the U.S. ________ account
A) surplus; current B) surplus; capital C) deficit; current D) deficit; capital
If the businesses last forever, then the Nash Equilibrium is
a. for one firm to charge a HP forever b. for your firm charge a LP when the other firm does c. for each firm to charge HP until the rival does, and then to charge a LP forever. d. for each firm to charge LP until the rival does, and then to charge a HP forever.
If government spending increases, which of the following is most likely to occur?
a. GDP, money demand, the interest rate, and investment spending will all increase. b. GDP, money demand, the interest rate, and investment spending will all decrease. c. GDP, money demand and the interest rate will increase, while investment spending will decrease. d. GDP, money demand and the interest rate will decrease, while investment spending will increase. e. GDP and money demand will increase, but the interest rate will not change.