In the eighteenth century, the rise of manufacturing in New England helped the region attract more settlers than the other regions of the English colonies
Indicate whether the statement is true or false
True
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If the long-run average cost curve is U-shaped, the optimal scale of production from society's viewpoint is
A) where maximum economic profit is earned by producers. B) the minimum efficient scale. C) one which guarantees economic profit. D) where firm profit is large enough to finance research and development.
How does a central bank influence the lending capacity of the banks?
Which of the following is true when there is excess demand for a product in a market?
a. Price must be above the equilibrium price. b. Price will tend to fall. c. Producers will reduce output and sales will fall. d. Price must be below the equilibrium price.
When a dinner in Bulgaria costs 120 Bulgarian levas, it will cost a U.S. resident ________ dollars, if the exchange rate is 1.2 Bulgarian levas to the dollar.
A. $10 B. $100 C. $120 D. $150