Which outcome represents the level of joint profit maximization?
a. Each firm charges $9.
b. Each firm charges $10.
c. Firm A charges $10 while Firm B charges $9.
d. Firm B charges $10 while Firm A charges $9.
b. Each firm charges $10.
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Place point X on the graph to indicate full employment, point Y to indicate economic growth and point Z to indicate a bad depression.
The degrees of freedom in a regression equation is the number of observations minus the number of estimated coefficients
Indicate whether the statement is true or false
Over time, an increase in a nation's stock of physical capital will:
a. shift the production possibilities curve inward. b. cause an economy to operate inside its production possibilities curve. c. shift the production possibilities curve outward. d. eliminate the basic economic problem of scarcity.
Because of the United States' long-standing trade deficit with Japan, the supply of U.S. dollars in Japan has increased. Which of the following is true about this situation?
A. The trade deficit will continue to increase in size as Japan gains more U.S. dollars and economic strength. B. The value of the U.S. dollar will decrease in terms of the yen, ceteris paribus, thereby reducing the trade deficit. C. We cannot say anything for sure about the trade deficit other than that it exists. D. Trade restrictions on Japanese imported goods are ultimately the only way to reduce the trade deficit.