The sales of the 50 largest corporations in the U.S. economy amount to nearly 31 percent of GDP in 2017.
Answer the following statement true (T) or false (F)
True
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"Diseconomies of scale" occur in
A) the long run, but not the short run. B) the short run, but not the long run. C) both the short run and the long run. D) neither the short run nor the long run.
A perfectly competitive firm is maximizing profits in the short run. This implies that the firm is earning the most economic profits possible, which
A) must be positive. B) must be either zero or positive. C) can be positive, negative, or zero. D) exist at the point at which price equals total cost.
When a price-taking country joins the global market for some good, it:
A. shifts the world demand and supply to the right. B. has a negligible effect on the world equilibrium. C. shifts the world demand to the right, and the world supply to the left. D. shifts the world demand and supply to the left.
In 2005, China increased the price of its currency while continuing to pursue a fixed exchange rate. This change in policy is called
A) an appreciation. B) a depreciation. C) a peg. D) a devaluation. E) a revaluation.