A firm will operate if ______ is greater than ______; a firm will shut down if ______ are greater than _________.
Fill in the blank(s) with the appropriate word(s).
total revenue; variable costs; variable costs; total revenue
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Which of the following is not a characteristic of perfect competition?
a. A commodity product b. A large number of independently acting sellers c. Freedom of entry d. The existence of externalities e. Each firm is a price taker
Common stockholders
A) must be paid a dividend. B) interest. C) may or may not be paid a dividend. D) must buy new shares from the company.
If a firm finances a new project using its own funds,
a. the cost is minimal b. the opportunity cost of borrowing has been avoided c. investment funds will be in excess supply d. the financing charges are the measure of the real interest rate e. the interest rate represents the firm's opportunity cost