If the price a firm charges in a perfectly competitive industry is less than average total cost:
A. the firm is earning positive economic profit.
B. the firm is earning zero economic profit.
C. the firm is earning negative economic profit.
D. it is not possible to determine anything about profits.
Answer: C
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steel industry, a "Buy American" provision would create gains for all of the following except A) U.S. steel workers. B) U.S. taxpayers. C) U.S. steel companies. D) All of the above would gain from the provision.
A __________ is a person who was employed in the civilian labor force and was either fired or laid off
A) new entrant B) reentrant C) job leaver D) job fixer E) none of the above
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A. corporate profits. B. the federal government. C. savings held in lending institutions. D. state and local governments.
When two variables have a positive correlation,
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