The opportunity costs associated with the use of resources owned by a firm are usually
a. externalities.
b. implicit costs.
c. explicit costs.
d. sunk costs.
B
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If the Fed increases the interest rate in the U.S.:
A) the demand curve for dollars will shift to the left. B) the demand curve for dollars will shift to the right. C) the supply curve of dollars will shift to the right. D) the real exchange rate of the U.S. will depreciate.
What are the main characteristics of a public good? Why does the government produce public goods rather than allowing firms in the competitive market to do so?
The effects of a recession on auto companies are that ________ cars are demanded and prices generally __________.
A. fewer; fall B. more; fall C. fewer; rise D. more; rise
A quota is a tax on imports.
Answer the following statement true (T) or false (F)