Only a firm with ______________ will be able to make their output profitably.
A. the highest opportunity cost of production
B. a comparative advantage at producing their output
C. an absolute advantage at producing their output
D. low variable costs
B. a comparative advantage at producing their output
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The stock market crashed in the year __________.
Fill in the blank(s) with the appropriate word(s).
An apparel manufacturer bought raw materials worth $60,000 in a particular year and earned a total revenue of $90,000. If he had no other expenditure, he added a value of ________ to the production process
A) $30,000 B) $90,000 C) $150,000 D) $12,000
What is the price level?
What will be an ideal response?
Gross national product, GNP, of the United States is the market value of all final goods and services
A) consumed by citizens of the United States anywhere in the world. B) consumed within the United States. C) produced within the United States. D) produced by citizens of the United States anywhere in the world.