Accounting profits at a firm's break-even point are
A. negative.
B. zero.
C. positive.
D. indeterminate since we need to know what demand is.
Answer: C
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It is not uncommon for people to say something like, "If we can put someone on the moon we should be able to . . . ," followed by the person's favorite project. What response can an economist make to this person?
What will be an ideal response?
According to the U.S. population surveys conducted by the census, since 1980 the total foreign-born population as a percentage of the total U.S. population:
a. has not changed. b. has declined. c. has risen. d. has been stable. e. has fallen to zero.
If the Fed buys more bonds from the public, and increases the price it is willing to pay for the bonds, what will happen to interest rates?
a. They will rise. b. They will fall. c. They will remain unchanged. d. The relationship between bond prices and interest rates is unclear.
A normal good is one:
A. whose amount demanded will decrease as its price decreases. B. whose demand curve will shift leftward as incomes rise. C. whose amount demanded will increase as its price decreases. D. for which the consumption varies directly with incomes.