The spot exchange market is for ________ delivery, whereas a forward contract permits a firm to buy or sell currency for ________ delivery
A) future; immediate
B) local; distant
C) immediate; future
D) long-term; short-term
C
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The marginal product of a variable input is calculated as:
A) the change in total product divided by the change in output. B) total product divided by the change in the variable input. C) the change in total product divided by the change in the variable input. D) total product divided by the total quantity of the variable input.
When breaking up a natural monopoly is not advisable
a. it should be left alone b. government regulation should be used to set marginal revenue equal to marginal cost c. government regulation should be used to set price equal to marginal revenue d. government regulation should be used to set marginal cost equal to long-run average total cost. e. public ownership and operation may improve efficiency
Barbara is a retailer of propane and propane accessories. As she designs her store layout for the new season, she recalls that a tax has just been removed from propane and propane products. If her store reflects the overall market, how should this knowledge influence her design?
a. She should make the propane area larger because more propane will be sold. b. She should leave the propane area the same size because the same amount of propane will be sold. c. She should make the propane area smaller because less propane will be sold. d. She should close the propane area until a new tax is added to propane.
the combination of price level and real output where aggregate demand = aggregate supply
What will be an ideal response?