Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.00 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 1?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 24,500
B) 27,000
C) 32,000
D) 22,500
A) 24,500
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Consider two countries: A and B. Assume that both countries are exactly similar until the year 2000. At the beginning of year 2000, both countries decide to change their strategy for economic growth
Country A plans to encourage immigration and increase human capital in the economy to achieve sustained growth, while Country B decides to make large investments in research and development to achieve sustained growth. Which of the two countries is more likely to experience sustained growth and why?
Which of the following provides the clearest example of human capital?
A) Automated equipment that can be used without any accompanying human labor B) Corporate stock owned by individuals and families rather than institutions such as mutual funds or corporations C) Machinery that has been designed and constructed by human beings D) Tools that cannot be used effectively except in combination with workers E) The ability to read
For most years of the nineteenth century, U.S. imports exceeded exports, and the U.S. economy had a trade deficit, which contributed to strong economic growth. This contributed to the U.S. economy having the highest per capita GDP in the world by around
a. 1900. b. 1910. c. 1920. d. 1930.