When revenue is less than total cost but more than variable cost it implies that:
a. the firm is enjoying positive economic profits.
b. the firm is earning normal profits.
c. the firm can cover its variable cost and a part of its fixed costs.
d. the firm is unable to cover its costs and should shut down.
e. the firm is able to cover both its fixed and variable costs.
c
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The use of government regulations and barriers in order to control trade is referred to as:
A) globalization. B) protectionism. C) liberalization. D) actualization.
Which of the following could not be expected to shift the aggregate demand curve?
a. Net exports fall. b. Consumption spending decreases. c. An increase in government spending. d. A change in real GDP.
Some laborers are productive, others are less so. How do we measure labor productivity? Why are there differences in labor productivity? a. Labor productivity is capital stock divided by labor, and differences may be explained by differences in the capital-labor ratio
b. Labor productivity is output divided by capital stock, and differences may be explained by differences in the capital-output ratio. c. Labor productivity is capital divided by GDP, and differences may be explained by differences in the capital-output ratio. d. Labor productivity is the change in labor divided by GDP, and differences may be explained by differences in the capital-output ratio. e. Labor productivity is GDP divided by labor, and differences may be explained by differences in the capital-labor ratio.
(Consider This) Newspaper dispensing devices seemingly "trust" people to take only a single paper, but the devices actually rely on the law of:
A. supply. B. increasing opportunity costs. C. demand. D. diminishing marginal utility.