A price level lower than equilibrium will cause quantity supplied to exceed quantity demanded
a. True
b. False
Indicate whether the statement is true or false
False
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Noncash gift giving involves value loss when the marginal utility of the gift to the receiver is less than the product price.
a. true b. false
A favorable balance of trade occurs when:
A. exports equal imports. B. the balance of payments balances. C. the current and capital account in the BOP are equal. D. the value of the exports of goods exceeds the value of the imports of goods.
Happy Bagels sells its bagels for $6 each and the firm has a constant marginal cost of $4 per bagel, which is equal to its (constant) average total cost. If Happy Bagels does not sell a bagel the day it is produced, the bagel is sold as day-old for $2. If Happy Bagels is currently holding 50 bagels in inventory and the probability that Happy Bagels will sell 50 bagels or more is 0.60, which of
the following statements is true? A) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to increase its inventory. B) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory by exactly one -half. C) To obtain the profit-maximizing, optimal level of inventory, Happy Bagels needs to decrease its inventory. D) Happy Bagels is holding the profit-maximizing, optimal level of inventory.
The political business cycle is:
A. not apparent in either GDP data or personal disposable income data. B. more apparent in GDP data than in personal disposable income data. C. less apparent in GDP data than in personal disposable income data. D. equally apparent in GDP data as in personal disposable income data.