An event that changes the supply of any factor of production can alter the earnings of all the factors
a. True
b. False
Indicate whether the statement is true or false
True
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Under perfect competition, regarding short-run profit, a firm may find itself losing money. This is true because:
a. the firm was unable to pick the output that maximized profit b. the market conditions make the highest possible profit a negative number c. the demand for its product is weak or its costs are high d. both b and c
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and reserves account in the context of the Three-Sector-Model? a. The real risk-free interest rate falls and reserves account becomes more
negative (or less positive). b. The real risk-free interest rate rises and reserves account becomes more negative (or less positive). c. The real risk-free interest rate and reserves account remain the same. d. The real risk-free interest rate rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Since the replacement of AFDC with TANF the welfare rolls have grown in the United States
a. True b. False
Only interest payments account for the majority of total federal spending
a. True b. False Indicate whether the statement is true or false