A profit-maximizing firm will never increase production if doing so causes total revenue to decrease
a. True
b. False
A
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The total amount of debt owed by the federal government is represented by the total value of the outstanding
A. U.S. government securities. B. bank loans and deposits. C. Federal Reserve notes. D. stocks and bonds.
If a coalition D is decisive over a pair of social outcomes (x,y) under a social choice process that satisfies Arrow's axioms, then another coalition C (that differs from D) cannot be decisive over a different pair (a,b) of social outcomes.
Answer the following statement true (T) or false (F)
If the quantity of real GDP demanded is less than the quantity of real GDP supplied, then
A) the economy must be producing at potential GDP. B) the price level falls and firms decrease production. C) the price level falls and firms increase production. D) the price level rises to restore the macroeconomic equilibrium. E) aggregate demand changes to restore the equilibrium.
If a corporation borrows capital for a specified period of time at an agreed-upon interest rate, this is a
a. common stock b. preferred stock c. convertible stock d. bond e. double tax