If the firm in the figure above is unregulated, it will produce
A) 5 units.
B) 20 units.
C) 30 units.
D) 40 units.
B
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The inflation rate measures the percentage increase in the price level from one year to the next
Indicate whether the statement is true or false
Caleb teaches economics at Yucky State University and is paid $50,000 per year. He also provides economic forecasts for local business for which he charges $100 per hour. Which of the following is true?
a. all of Caleb's income is salary b. some of Caleb's income is salary and some is personal interest c. all of Caleb's income is proprietor's income d. some of Caleb's income is salary and some is proprietor's income e. all of Caleb's income is personal interest
Capital is to investment as
a. hard is to soft. b. a flow is to a stock. c. a stock is to a flow. d. paper is to metal.
If individuals are rational, they should choose actions that yield the:
A. smallest economic surplus. B. largest economic surplus. C. smallest total costs. D. largest total benefits.