In long-run equilibrium under pure competition, all firms will produce at minimum:
A. Average total cost
B. Marginal cost
C. Total cost
D. Average variable cost
A. Average total cost
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If the interest rate increases from 5 percent to 7 percent, the present value of a future payment
A) rises. B) falls. C) is unaffected. D) might either rise or fall.
The funds used to purchase capital goods are called
A) investment. B) savings. C) financial capital. D) dividends and interest.
What is the consumer price index? How is it different from the GDP price index?
What will be an ideal response?
If the exchange rate of U.S. dollars for yen is 100.yen to $1 (U.S.), then the exchange rate of yen for U.S. dollars is
A. .01 (1/100) dollars per yen. B. -.1 (1-1.1) dollars per yen. C. 99 (100-1) dollars per yen. D. not knowable from this data.