In the short run, a firm incurs fixed costs
a. only if it incurs variable costs.
b. only if it produces no output.
c. only if it produces a positive quantity of output.
d. whether it produces output or not.
d
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The price of the steel used to produce car engines increases. How does this price hike affect the demand curve for cars?
A) The demand curve shifts leftward. B) The demand curve shifts rightward. C) The demand curve does not shift. D) There is not enough information to tell how the change shifts the demand curve for cars.
If Japan does not have a comparative advantage in producing rice, the consequences of adopting a Japanese policy of reducing or eliminating imports of rice into their country would include:
a. Japan will be able to consume a combination of rice and other goods' consumption beyond their domestic production possibilities curve. b. the real incomes of Japanese rice producers would rise, but the real incomes of Japanese rice consumers would fall. c. the real incomes of Japanese rice consumers would rise, but the real incomes of Japanese rice producers would fall. d. the price of rice in Japan will fall.
The open-economy macroeconomic model includes
a. only the market for loanable funds. b. only the market for foreign-currency exchange. c. both the market for loanable funds and the market for foreign-currency exchange. d. neither the market for loanable funds nor the market for foreign-currency exchange.
The banks basic reserve ratio on checking deposits over $55.2 million is now
A. 16%. B. 14%. C. 12%. D. 10%.