In the short run, the firm has no more than one fixed input.
Answer the following statement true (T) or false (F)
False
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Which of the following is a property of a good economic question?
A) A good economic question should never incorporate elements from disciplines other than economics. B) A good economic question should always have a single solution. C) A good economic question can be answered. D) A good economic question always addresses topics that are important to the whole society and not to an individual economic agent.
High real interest rates
A. increase the demand for the domestic currency by foreigners. B. cause decreased job opportunity. C. cause worker productivity to decrease. D. crowd out interest-sensitive expenditures.
When attempting to determine if a sales tax is regressive or not, it is important to consider _____
a. bequests b. that a general sales tax is a consumption tax c. that people pay income taxes d. that individual's incomes change over their lifetime
A brand name may contribute to oligopolists' economic profit by
a. shifting the demand curve leftward b. shifting the supply curve leftward c. overcoming economies of scale d. acting as a barrier to entry e. reducing advertising costs