If a firm produces a quantity at which total revenue exceeds total cost, then:
a. economic profit is positive.
b. economic profit equals accounting profit.
c. economic profit is negative.
d. economic profit is zero.
a. economic profit is positive.
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Consider the following pieces of information:
a. According to Bonnie Reyes, president and chief operating officer of Better Investing, a national organization of investment clubs, women have traditionally made up about 60 percent of the membership of investment clubs. By contrast, less than a third of team-managed mutual funds on Wall Street have even one woman on the management team. b. Research conducted by professors E. Brooke Harrington and Max Planck concluded that mixed investment clubs, on average, outperformed the typical single-sex investment club. c. The lack of gender diversity in Wall Street could be influenced by its reputation, according to professor Harrington, "for being inhospitable to women." Source: Michael Hulbert, "Strategies: At some Funds, a Gender Communications Gap," The New York Times, October 7, 2007, Sunday Money, page 5. The information presented is an example of A) a negative feedback loop. B) marginal productivity theory. C) the absence of comparable worth. D) economic discrimination.
One problem with unrestricted global capital movements is that capital suppliers may
a. have little information about conditions overseas b. react quickly to bad news regardless of economic fundamentals c. be interested in short-run gains rather than development objectives d. all of the above
In the Classical view, the money supply determines
A) interest rates. B) the saving rate. C) aggregate supply. D) the price level.
Suppose the market for grass seed can be expressed as:
Demand: QD = 100 - 2p Supply: QS = 3p If government imposes a $5 specific tax to be collected from sellers, what is the price consumers will pay? How much tax revenue is collected? What fraction is paid by sellers?