The demand curve confronting a competitive firm is
A. Downward-sloping, while market demand is flat.
B. Downward-sloping, as is market demand.
C. Horizontal, while market demand is downward-sloping.
D. Horizontal, as is market demand.
Answer: C
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Higher saving rates mean higher future growth rates because
A. saving contributes to less investment, which yields a larger capital stock. B. the banks have more money to distribute to their shareholders. C. saving contributes to more investment, which yields a larger capital stock. D. the interest earned from savings gives you more wealth.
Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Nominal GDP for 2009 equals ________.
A. $2,300 B. $5,000 C. $2,700 D. $3,600
______ identifies all of the input combinations that efficiently produce a given amount of output.
A. A production function B. An efficient production frontier C. A production possibilities curve
In corporations, a principal-agent problem can arise when
a. the shareholders are the principal and the managers are the agent. b. the board of directors is the principal and the managers are the agent. c. the shareholders are the principal and the board of directors is the agent. d. All of the above are correct.