A sign that Country A is under pressure to devalue its currency is its:
a. Overall balance is in surplus.
b. Financialaccount is in deficit.
c. Overall balance is in deficit.
d. Reserves account is in deficit (i.e., negative).
e. All of the above.
.C
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An organic farm sells tomatoes for 50 cents each at the local farmers market. It only cost them (in the accounting measure) 5 cents to produce each tomato. What happens to GDP with the sale of each tomato?
A) It increases by 5 cents. B) It increases by 45 cents. C) It increases by 50 cents. D) It increases by 55 cents. E) It remains unchanged because organic farmers try not strive for profit.
A production goal may be set too high by upper management because
a. they are unsure about the actual costs of production b. they under-estimate the difficulty of meeting a goal c. division managers over-state the difficulty of meeting the goal d. all of the above
Which of the following strategies is not an effective strategy to reduce monopoly inefficiency?
a. antitrust laws b. price discrimination c. doing nothing d. breaking up a natural monopoly into more than one firm
A profit-seeking firm will choose the combination of inputs that maximizes profit, based on the:
A. local price of each factor of production. B. total productivity of each factor of production. C. substitutability of each factor of production. D. ratio of each factor of production.