A firm's cost curve is determined by
A) congressional laws.
B) whether the firm hires engineers or not.
C) natural laws.
D) the firm's production function.
D
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In the real business cycle model, the short-run aggregate supply curve is always the same as ________
A) long-run aggregate supply B) the long-run aggregate demand schedule C) the velocity of money D) the real rate of interest
The value of any resource depends on the value of what it produces, so resource demand is said to be:
a. derived from the demand for the product the resource produces. b. derived from the revenue of the product the resource produces. c. derived from the total cost of the product the resource produces. d. derived from the supply of the product the resource produces.
The following table shows the export and import values of automobiles, pharmaceuticals, and clothing in Country A and Country B. Country AExports ($Billions)Imports ($Billions)Automobiles2040Pharmaceuticals3030Clothing400Country BExports ($Billions)Imports ($Billions)Automobiles020Pharmaceuticals4040Clothing4535 In Country A, the product with the highest intra-industry trade (IIT) share is ________ and the product with the lowest IIT share is
A. clothing; automobiles. B. automobiles; pharmaceuticals. C. pharmaceuticals; clothing. D. clothing; pharmaceuticals.
In Figure 22.1, which area represents consumer surplus to the drug addict? 
A. AP*C B. 0P*CQ* C. 0BCQ* D. 0ACQ*