Suppose that Bill Toney, a tobacco farmer near Roanoke, Virginia has assets of $50 million and liabilities of $38 million. What is the equity for this tobacco farmer?
A) $50 million B) $88 million C) $6 million D) $12 million
Answer: D
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When scarce resources can serve only one user at a time in sequence, which method works well for allocating the scarce resources?
A) first come, first served B) lottery C) contest D) command system
Suppose that at the current level of output, price = $100, MC = $100, AVC = $80, and ATC = $90. Which of the following is TRUE?
A) The firm should decrease output. B) The firm should shut down. C) The firm should increase output. D) The firm should maintain the current level of output.
If the interest rate increases, then the:
A. economy will move to a new point along the existing consumption function. B. consumption function will shift upward. C. investment demand curve will shift downward. D. investment demand curve will shift upward.
Economic growth may be represented by:
A. A movement from one end of the production possibilities curve to the other B. An upward-sloping production possibilities curve C. A movement from a point inside to a point on the production possibilities curve D. A rightward shift of the production possibilities curve