The firm's overriding objective is to
A) earn a normal profit.
B) maximize normal profit.
C) maximize economic profit.
D) maximize total revenue.
E) avoid an economic loss.
C
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Bonds can be risky investments because
a. bondholders are paid from whatever remains after stockholders have been paid what the corporation owes them. b. if the corporation loses its assets, the bondholders may never recover their investments. c. the general price level may fall. d. the voting power of an individual bondholder may be more apparent than real.
Figure 9-1
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In Figure 9-1, at $3,000 billion real GDP,
A. spending exceeds total output and inventories will fall. B. inventories are constant. C. aggregate demand equals aggregate supply. D. spending falls short of output and inventories will rise.
Social Security taxes are paid by
A. neither employers nor employees. B. both employers and employees. C. employers only. D. employees only.
________: level of output at which average variable costs equal average revenue or the market price
Fill in the blank(s) with correct word