What is the term for the amount of money that a firm receives from the sale of its output?
a. total gross profit
b. net revenue
c. total revenue
d. total net profit
Ans: c. total revenue
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Which of the following is NOT a deficit item on the international accounts balance sheet for a country?
A) imports of merchandise B) military spending abroad C) purchases of foreign currency D) exports of merchandise
The term "open market operations" refers to the
a. loan-making activities of commercial banks. b. effect of expansionary monetary policy on interest rates. c. operation of competitive markets in the banking industry as the result of deregulation. d. buying and selling of government securities by the Federal Reserve.
If the firm is maximizing profits (minimizing losses), they are making a profit or loss of about ____.
A. -$1,000
B. $500
C. $3,000
D. $2,500
The supply of workers in a particular occupation could be relatively large if:
A. training costs are low. B. job features are undesirable. C. there are few people with the required skills. D. there are artificial barriers to enter that profession.