Workers in the 1800s building railroads by hand was an example of a(n) ____ intensive form of production
a. capital
b. labor
c. entrepreneurial
d. working
b
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If the money stock is $900 million and the reserve requirement is 20%, what is the monetary base?
A) $180 million B) $4,500 million C) $720 million D) The monetary base cannot be determined with the information given.
According to the above figure, if the firm is earning zero economic profits, what quantity is the firm selling and at what price?
A. Q = 1,200; P = $7 B. Q = 1,000; P = $5 C. Q = 800; P = $4 D. Q = 200; P = $4
Once a firm incurs diminishing marginal returns, total product will begin to decline as more of the variable input is employed
Indicate whether the statement is true or false
The number of firms in a monopolistically competitive market will be smaller if
A) the market demand curve shifts rightward. B) the minimum efficient scale is lower. C) fixed costs are smaller. D) fixed costs are larger.