A U.S. firm opens a factory that produces power tools in Korea
a. This increases U.S. net capital outflow and decreases Korean net capital outflow.
b. This decreases U.S. net capital outflow and increases Korean net capital outflow.
c. This increases only U.S. net capital outflow.
d. This increases only Korean net capital outflow.
a
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April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her hel
A) Her accountant calculates her profit as $40,000. B) She has an economic loss. C) Her explicit cost is $105,000. D) Both answers A and B are correct. E) Both answers A and C are correct.
Which of the following conditions is true for a purely competitive firm in long-run equilibrium?
A. P > MC = minimum ATC. B. P > MC > minimum ATC. C. P = MC = minimum ATC. D. P < MC < minimum ATC.
Recall the Application about property rights, urban slums, and the role of government in a market economy to answer the following question(s).According to the Application, what percentage of the world's population currently lives in urban squatter settlements and therefore has very little housing security?
A. 1% B. 10% C. 30% D. 50%
Refer to the information provided in Figure 8.9 below to answer the question(s) that follow. 
Figure 8.9
Refer to Figure 8.9. If this farmer produces the profit-maximizing level of hay when the market price is $18 per bale, her total cost would be
A. $1,200. B. $2,800. C. $5,600. D. $6,300.