Investment returns:
A. are always positive.
B. are only received when an asset is sold.
C. are only received when there is stream of multiple payments generated by the asset.
D. can be received either through the sale of an asset or as a stream of payments.
D. can be received either through the sale of an asset or as a stream of payments.
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The demand curve faced by a perfectly competitive firm
A. has unitary elasticity. B. is identical to the market demand curve. C. yields constant total revenues even when price changes. D. is the same as its marginal revenue curve.
The Federal Reserve's performance in the mid-to-late 1980s, 1990s, and early 2000s has received high marks from economists, even without inflation targeting
Indicate whether the statement is true or false
In a perfectly competitive labor market, a profit-maximizing firm that is also perfectly competitive in the product market will:
a. face a perfectly inelastic supply curve of labor. b. pay a wage that is equal to the price of the product. c. pay a wage that is equal to the marginal product of labor. d. hire more units of labor than would a firm that sells its output in a monopoly market. e. pay a wage equal to the marginal factor cost.
Missouri can produce 10,000 tons of pecans per year or 5,000 tons of pears per year. Washington can produce 12,000 tons of pecans per year or 48,000 tons of pears per year. Which of the following statements is TRUE?
A) Washington has an absolute advantage in the production of both pecans and pears. B) Washington has a comparative advantage in the production of both pecans and pears. C) Washington has a comparative advantage in producing pecans and Missouri has a comparative advantage in producing pears. D) Both answers A and C are correct.