An entrepreneur probably will start a business if she sees an opportunity to sell an item at a price:
A. less than the competitors' price.
B. equal to the competitors' price.
C. equal to the average total cost of producing it.
D. higher than the average total cost of producing it.
Answer: D
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Use the following data to answer the next question.OutputATC-AATC-BATC-C10$6$13$442059353046274054205073146010411701458801976902510510032167The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "C" for the production of
A. all possible levels of output. B. 80 to 100 units of output. C. 10 to 30 units of output. D. 40 to 70 units of output.
What were the principal causes of the U.S. government budget deficits of the 1980s? How did these budget deficits lead to the twin deficits? According to the Ricardian equivalence proposition, should twin deficits arise as a result of tax cuts?
What will be an ideal response?
The maximum possible production of goods and services generated by the fullest employment of the economy's resources is
a. impossible to achieve b. an unrealistic goal seldom achieved c. economic efficiency d. a point above the production possibilities curve e. possible only if the production possibilities curve shifts inward
Unemployment insurance:
A. has a set minimum in the US. B. is typically 32 weeks in the US, except for times of unusually high unemployment. C. varies widely across countries. D. All of these are true.