If a firm sells its output at a price greater than AC, it will earn economic profit.
Answer the following statement true (T) or false (F)
True
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When government imposes a tax equal to the external cost of producing a product that generates pollution, the government is said to externalize the internality
Indicate whether the statement is true or false
How do high rates of inflation lead to an increased frequency of cash withdrawals from an ATM or a bank?
If a country's rules-based monetary policy sets the annual money supply growth rate equal to the average annual growth rate of Real GDP, and velocity is a constant, then the price level
A) is also constant. B) rises in years when Real GDP rises. C) rises in years when Real GDP growth is less than average. D) rises in years when Real GDP growth is greater than average.
The role of the government in establishing how private business can operate includes all of the following except
A. Providing raw materials to business. B. Protecting consumers from defective products. C. Providing a legal framework. D. Protecting the environment.