The figure above shows a firm in a perfectly competitive market. If the firm does not shut down, the least amount of output that it will produce is
A) less than 5 units.
B) 5 units.
C) 8 units.
D) 10 units.
C
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Economists use the term normal good to refer to goods that
a. you consume on a daily basis. b. you consume more of when your income falls. c. you consume more of when your income rises. d. consumers choose the same quantities of regardless of income.
In 2014, foreign purchases of U.S. corporate stocks and bonds
A) doubled. B) grew at a faster pace than foreign investment in U.S. corporate bonds. C) grew at a faster pace than foreign investment in U.S. government bonds. D) fell.
The WTO and GATT promote trade by:
A. reducing tariffs. B. eliminating quotas. C. reducing agricultural subsidies. D. All of these.
The slope of the aggregate demand curve illustrates that as the price level rises,
A. real GDP demanded decreases. B. real GDP demanded increases. C. the aggregate demand curve shifts rightward. D. the aggregate demand curve shifts leftward.