If a firm in a monopolistically competitive market has a demand curve shifting to the right, it could be that:
A. the selling price is less than the average total cost of the firm.
B. firms are leaving the market.
C. negative economic profits are being earned.
D. All of these statements are true.
Answer: D
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The account that records changes in the U.S. government's holdings of foreign currency is the
A) capital and financial account. B) official settlements account. C) current account. D) U.S. official reserves account.
An index of the weighted exchange value of the U.S. dollar versus the currencies of a broad group of major U.S. trading partners is called:
A) trade-weighted dollar. B) exchange-weighted dollar. C) dollarization. D) bilateral dollar.
The fact that there are too few resources to satisfy all our wants is attributed to
A. Lack of money. B. Shortages. C. Greed. D. Scarcity.
Accounting profit differs from economic profit because:
a. of differences in the manner in which revenue is calculated. b. economic costs include depreciation, while accounting costs do not. c. accounting costs are generally higher than economic costs because accounting costs include explicit and implicit costs, while economic costs include only explicit costs. d. economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.