An important determinant of a nation's standard of living in the long run is its net exports
Indicate whether the statement is true or false
false
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Assume a perfectly competitive firm's short-run cost is TC = 100 + 160Q + 3Q2. If the market price is $196, what should it do?
A) produce 5 units and continue operating B) produce 6 units and continue operating C) produce zero units (i.e., shut down) D) Cannot be determined from the above information
Economists argue that unhindered international trade leads to an efficient outcome. What is meant by "an efficient outcome" in this context?
A) an outcome in which wages are roughly equal around the world B) an outcome in which the standard of living is roughly equal around the world C) an outcome in which an individual can choose to specialize in a certain line of work and be certain that he or she can make a living at that until retirement D) an outcome in which resources are devoted to their most efficient use
An appreciation of the U.S. dollar would
a. encourage foreigners to invest in the United States. b. discourage foreigners from buying U.S. goods. c. discourage the travel abroad of U.S. citizens. d. encourage foreign travel in the United States.
Refer to the table below. If Stuffed Pies is currently producing 5 units of quality, to maximize profit, Stuffed Pies should ________ the units of quality.
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) decrease
B) not change
C) increase
D) decrease by 50 percent