If aggregate output is above its equilibrium level ________
A) there is an excess supply of goods
B) actual output is below planned expenditure
C) firms will tend to replenish their low inventories driving output up toward equilibrium
D) all of the above
E) none of the above
A
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To find a firm’s total revenue at every quantity, all you need to know is
A. the demand curve for its product. B. the demand curve for its product and its total cost. C. its profit-maximizing price and quantity. D. its total profit curve.
A payday loan company has decided to open several new locations in the city. To decide where to open these locations it hires consultants and pays them per store opened. At the end of the quarter, the company notices a many of the new stores' sales volume fail to meet expectations. To incentivize the consultants to instead focus on opening profitable stores, the company decided to alter the
compensation to a percentage of the profit earned per new store. This puts the consultants a. In a less risky position b. A more risky position c. In risk neutral position d. None of the above
A country that can produce a good using fewer resources than another country has a(n):
a. lower opportunity cost of producing the good than another country. b. absolute advantage. c. specialization in the production of the good. d. all of these.
"Competition is the great regulator." This statement reflects that
What will be an ideal response?