Macroeconomics deals with
A) aggregates within the economy.
B) specific sectors within the economy.
C) the retail industry only.
D) decisions made by firms.
A
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Investment spending at any level of national income is the investment producers
a. actually make b. expected to make c. expect to make d. make net of actual investment e. intend to make
Which would be a qualification to the view that oligopoly is evocatively and productively inefficient?
A. Less foreign competition has stimulated more price competition in oligopolies B. Oligopolies are less technologically competitive so they lose market share C. Oligopolies may purposely keep prices below short-run profit-maximizing levels to bolster barriers to entry D. The more collusive practices of oligopolies lead to more profit-sharing among firms in the industry
Figure 9.3Figure 9.3 shows the cost structure of a firm in a perfectly competitive market. If the market price is $3 and the firm produces the output where MR = MC, its profit is:
A. -$300. B. -$600. C. -$900. D. -$1,200.
When economic profits are negative, accounting profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.