The inputs used to produce goods and services are called
a. profit factors.
b. marginal products.
c. labor demands.
d. factors of production.
d
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Which of the following statements is true?
A. Accounting profit is always positive. B. Economic profit is always positive. C. Accounting profit is greater than or equal to economic profit. D. Economic profit is greater than or equal to accounting profit.
The marginal revenue curve facing a monopolistically competitive firm
A) lies on its demand curve. B) lies above its demand curve. C) lies below its demand curve. D) is equal to its price curve. E) is parallel to its demand curve.
The national debt: a. is a flow variable measuring the net accumulation of past deficits
b. is a stock variable measuring the net accumulation of past deficits. c. measures the amount by which government revenues exceed outlays in a particular year. d. includes the projected liabilities of Social Security, Medicare, and other federal retirement programs. e. includes outstanding liabilities of federal, state, and local governments minus government financial assets.
When a society is more equal:
A. the more the economy grows, so the best economy is the most equal. B. the more everyone gains when the economy improves, but that doesn't mean the most equal society is the best society. C. economic growth will create imbalance, and the government will need to work to equalize incomes. D. economic growth will provide the most resources for its disadvantaged members .