The government debt is the difference between the current level of total expenditures and revenues
Indicate whether the statement is true or false
FALSE
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The first run on a British bank since 1866 occurred in August 2007 at which bank?
A) Liberty Mutual B) Liberty Rock C) Northern Rock D) Bank of England E) First Savings and Loan
Something that would cause the long-run aggregate supply curve to shift to the right would be the:
A. unemployment rate decreasing. B. discovery of a new oil reserve. C. inflation rate decreasing. D. The long-run aggregate supply curve is fixed, and does not shift.
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 How should Frank divide his time between the east and the west orchard?
A. He should spend 1 hour in the east orchard and 3 hours in the west orchard. B. He should spend all 4 hours in the east orchard. C. He should spend 3 hours in the east orchard and 1 hour in the west orchard. D. He should spend 2 hours in east orchard and 2 hours in the west orchard.
Explain what the profit-maximizing combination of resources is for the perfectly competitive firm
What will be an ideal response?