Historical biography: The entrepreneur who created the General Electric Company was
a. John D. Rockefeller
b. Thomas Edison
c. James Duke
d. Andrew Carnegie
e. Alexander Graham Bell
B
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Why does the short-run aggregate supply curve shift to the right in the long run, following a decrease in aggregate demand?
A) Workers and firms adjust their expectations of wages and prices upward and they push for higher wages and prices. B) Workers and firms adjust their expectations of wages and prices upward and they accept lower wages and prices. C) Workers and firms adjust their expectations of wages and prices downward and they accept lower wages and prices. D) Workers and firms adjust their expectations of wages and prices downward and they push for higher wages and prices.
Bill, a U.S. citizen, pays a Spanish architect to design a metal casting factory. Which country's exports increase?
a. Spain's b. the U.S.'s c. Spain's and the U.S.'s d. neither Spain's nor the U.S.'s
Strategic behavior is key feature in which market structure?
A. Monopolistic competition B. Perfect competition C. Oligopoly D. Monopoly
The formula for total fixed cost is
A) TFC = TC + TVC. B) TFC = TVC - TC. C) TFC = TC/TVC. D) TFC = TC - TVC.