Economic profit is always
A) greater than accounting profit.
B) equal to accounting profit.
C) less than accounting profit.
D) equally likely to be either greater or less than accounting profit.
C
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Well-functioning financial markets promote
A) inflation. B) deflation. C) unemployment. D) growth.
Bill created a new software program he is willing to sell for $200 . He sells his first copy and enjoys a producer surplus of $150 . What is the price paid for the software?
a. $50. b. $150. c. $200. d. $350.
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. At the end of the day, Jerry could have produced:
A. 10 dishes and 5 fences. B. 12 dishes and 6 fences. C. 14 dishes and 7 fences. D. 6 dishes and 4 fences.
Aggregate demand ________ and shifts the AD curve ________ when ________
A) increases; rightward; government expenditure increases B) increases; leftward; government expenditure increases C) decreases; leftward; foreign income increases D) increases; rightward; future expected profit decreases E) increases; rightward; taxes increase