Refer to Exhibit 2-2. If PPF2 is the relevant production possibilities frontier, then point __________ is unattainable.
Answer: J
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Market price is $50. The firm's marginal cost curve is given by MC = 10 + 2Q
a. Find the profit-maximizing output for the firm. b. At this output, is the firm making a profit? Explain your answer.
Index funds are a portfolio of:
A. bonds with rates of return fixed at 2 percentage points above the rate of inflation. B. mutual funds that track different indexes. C. stocks or bonds that exactly match a particular index. D. stocks guaranteed rates of return in excess of growth in the GDP price index.
What is one reason a gift card might be less desirable than cash?
A) A gift card requires an individual to purchase from a particular store, which restricts the choice set. B) Cash requires an individual to purchase from a particular country, which restricts the choice set. C) Cash and the gift card are equally desirable, there is no problem here. D) Gift cards are easier to steal or lose relative to cash.
Which actor in the simplified circular flow model is on the supply side of the factor market?
A. Firms B. Households C. Market for goods and services D. Government