Refer to the diagram. To maximize profits or minimize losses, this firm should produce:
A. E units and charge price C.
B. E units and charge price A.
C. M units and charge price N.
D. L units and charge price LK.
B. E units and charge price A.
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Suppose that investment is increasing. Most of the increase in real GDP that results is due to ________.
A. an increase in government purchases B. an increase in consumption C. additional increases in investment D. an increase in net exports
In 1980, the U.S. budget was ________, private saving was ________ domestic investment, and foreign borrowing was ________
A) in deficit, higher than, not needed to finance deficit B) balanced, roughly equal to, not needed to finance deficit C) balanced, less than, substantial. D) surplus, greater, negligible
Probit coefficients are typically estimated using
A) the OLS method B) the method of maximum likelihood C) non-linear least squares (NLLS) D) by transforming the estimates from the linear probability model
Describe the vicious circle of poverty. What are the consequences of this cycle?