When a monopolistically competitive firm breaks even in the long run, this is equivalent to earning a zero accounting profit
Indicate whether the statement is true or false
FALSE
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Lowering the discount rate will
A) increase reserves, encourage banks to make more loans, and increase the money supply. B) decrease reserves, encourage banks to make fewer loans, and increase the money supply. C) decrease reserves, encourage banks to make fewer loans, and decrease the money supply. D) increase reserves, encourage banks to make more loans, and decrease the money supply.
One way to predict the future profitability of a company is through:
A. technical analysis. B. fundamental analysis. C. using current prices. D. All of these are ways to predict a company's worth.
The production possibilities curve represents which of the following?
A. The amount of goods attainable with variable resources B. The maximum amount of goods attainable with variable resources C. The amount of goods attainable if prices decline D. The maximum combinations of goods attainable with fixed resources
A tariff designed to eliminate foreign competition completely will be expected to raise:
A. either a large or a small amount of revenue depending on the magnitude of the tariff imposed. B. a relatively large amount of tax revenue. C. a relatively small amount of tax revenue. D. an amount of revenue equal to the amount of the tariff multiplied by the volume of exports.