The behavior of historical cost curves says nothing about the cost advantages or disadvantages of a single large firm
a. True
b. False
Indicate whether the statement is true or false
True
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What most accurately describes what happened to earnings in the US between 1914 and 1920?
a. Both nominal and real earnings increased substantially. b. Nominal and real earnings dropped significantly as the World War I triggered a recession. c. Nominal earnings increased slightly, but real wages decreased because of the large inflation. d. A period of deflation led real earnings to increase even though nominal earnings had decreased slightly.
Foreign aid often becomes a source of discretionary funds that benefit poor people in developing countries and not the countries' leaders
a. True b. False
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm, total revenue is
A. $130. B. $70. C. $100. D. $30.
Refer to the diagram, in which S 1 and D 1 represent the original supply and demand curves and S 2 and D 2 the new curves. In this market:
A. supply has decreased and equilibrium price has increased.
B. demand has increased and equilibrium price has decreased.
C. demand has decreased and equilibrium price has decreased.
D. demand has increased and equilibrium price has increased.