If the value of net exports is negative, then
A. imports exceed exports.
B. exports equal imports.
C. exports exceed imports.
D. imports are zero.
Answer: A
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A firm's short-run supply curve is the same as _____ if it produces the good
A. its marginal revenue curve B. the upward-sloping part of its marginal cost curve C. its marginal cost curve above minimum average variable cost D. its marginal cost curve above minimum average total cost
Suppose a publisher faces the following costs of producing 10,000 newspapers each month: $5,500 cost of labor; $2,200 monthly mortgage payment; $250 cost of electricity to run the printing presses; $800 for ink and paper; and $200 in city property taxes (based on the value of the building and land). Its total variable costs are
a. $8,950 b. $8,750 c. $6,550 d. $6,300 e. $5,500
When price is constant, the average revenue curve is a(n)
a. upward-sloping straight line b. downward-sloping straight line c. horizontal line d. vertical line e. point on the total revenue curve
QN=69 (17789) What word do economists use to refer to the purchase of goods that will be used in the future to produce more goods and services?
a. capital b. consumption c. investment d. costs