Which of the following is NOT an example of a factor of production?
A) Coal
B) Tractors
C) Cigarettes
D) College graduates
C
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When the ratio of domestic prices to foreign prices falls:
A) the real exchange rate depreciates only when the nominal exchange rate depreciates. B) the real exchange rate depreciates even when the nominal exchange rate is constant. C) the real exchange rate appreciates. D) the real exchange rate depreciates only when the nominal exchange rate appreciates.
In the long run, Bubba's Baby Boutique, a monopolistically competitive firm,
a. earns zero normal profit but positive economic profit b. earns normal profit but zero economic profit c. earns normal and economic profit d. earns zero normal and economic profit e. might earn any level of economic profit; no level is guaranteed
Which of the following is concerned primarily with price discrimination?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
The slope of the supply of loanable funds is based on the logic that an increase in interest rates
a. makes saving more attractive. b. makes saving less attractive. c. makes investment more attractive. d. makes investment less attractive.