It is possible for a firm to enjoy a short-run producer surplus, while at the same time suffering a short-run economic loss
a. True
b. False
A
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When two goods are related such that an increase in the price of one good decreases the quantity demanded of the other good, these goods are definitely
A) normal goods. B) luxury goods. C) complements. D) substitutes. E) inferior goods.
The term market always refers to
a. an arrangement in which an auctioneer plays at least a limited role in setting prices. b. an arrangement in which buyers and sellers meet at a specific time and place. c. a group of buyers and sellers of a particular good or service. d. a single buyer and seller of a particular good or service.
The total value of government bonds outstanding at any particular time is called the
A) government debt. B) government deficit. C) seignorage revenue. D) yield curve.
Suppose the reserve requirement is 15 percent. Which of the following is true? a. The simple money multiplier is 15
b. The simple money multiplier is 1/15. c. The simple money multiplier is 30,000. d. The simple money multiplier is 1/30,000. e. The simple money multiplier is 1/0.15.