In the short run, a firm that finds itself earning a loss should compare the market price to which cost in order to determine how to minimize its losses?
A. Average total costs
B. Average variable costs
C. Marginal costs
D. Fixed costs
B. Average variable costs
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International factor flows tend to lower incomes of those factors in host countries that most directly substitute for that factor, and to raise the incomes of other factors
Indicate whether the statement is true or false
A U.S. family flies from Boston to Shanghai on a China Airlines plane. This transaction is
A) considered an export of service in the U.S balance of payment accounts. B) a deficit item in the balance of payment accounts of China. C) Both of the above are correct. D) none of the above.
A study of the impact of various government policies on economic growth would be considered:
A. macroeconomics. B. marginal economics. C. government economics. D. microeconomics.
What is the difference between a necessity and a luxury?
What will be an ideal response?