If a firm has an accounting profit of $2,350,000 and implicit costs totaling $150,000 . then its economic profit equals
a. $2,350,000
b. $2,500,000
c. $2,200,000
d. $150,000
e. $2,000,000
C
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
A decrease in demand will cause a surplus at the original market price
a. True b. False Indicate whether the statement is true or false
The question below are based on the following four sets of data-pairs: (1) A and B, (2) C and D, (3) E and F, and (4) G and H. In each set, the independent variable is in the left column and the dependent variable is in the right column
The vertical intercept is 12 in which of the above data sets?
A. 1
B. 2
C. 3
D. 4
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.