A firm that is earning zero economic profit should go out of business.
Answer the following statement true (T) or false (F)
False
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When a rent ceiling is ________, consumer surplus and producer surplus shrink, a deadweight loss ________, and resources are lost in search activity and evading the rent ceiling law
A) inefficient; arises B) inefficient; disappears C) efficient; arises D) efficient; disappears E) nonexistent; arises
If a linear supply curve has a zero intercept, the elasticity of supply is always unitary
What will be an ideal response?
We can roughly estimate how long it will take a country to double its real GDP per capita using the:
A. rule of 70. B. rule of 60. C. growth estimator. D. GDP deflator.
The sale of Chinese goods in the United States of America has increased over the past few months. This will cause the:
a. U.S. dollar to appreciate against the Chinese yuan. b. U.S dollar to strengthen against the Chinese yuan. c. Chinese yuan to appreciate against the U.S. dollar. d. Chinese yuan to depreciate against the U.S. dollar.