The conclusion that the economy has price flexibility, wage flexibility, and perfectly competitive markets justifies
A) rational policy making. B) passive policy making.
C) active policy making. D) none of the above.
B
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Refer to the scenario above. What is the difference between the future value of John's deposit and Wendy's deposit after one year?
A) $10 B) $40 C) $60 D) $100
Total costs increase from $1500 to $1800 when a firm increases output from 40 to 50 units. Which of the following are true?
a. FC = $100 b. MC=300 c. MC=30 d. FC = $400
About what percent of the world's poorest people are female?
a. 30 b. 50 c. 70 d. 90
Which statement is true?
A. In the short run and the long run the perfect competitor will break-even. B. In the short run and the long run the perfect competitor will make a profit. C. In the short run the perfect competitor may make a profit or take a loss. D. In the long run the perfect competitor will make a profit, but in the short run she will break-even.