A firm is currently producing 100 units of output per day. The manager reports to the owner that producing the 100th unit costs the firm $5 . The firm can sell the 100th unit for $5 . The firm should continue to produce 100 units in order to maximize its profits (or minimize its losses)
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in population results in an increase in demand
Indicate whether the statement is true or false
The company where Bruce worked decided to shut down one of its factories. Bruce was laid off as part of a permanent reduction in workforce in August 2008 . He was unemployed at the time of an employment survey in September 2008 but started working again in December 2008 . This is an example of _____
a. frictional unemployment b. seasonal unemployment c. cyclical unemployment d. structural unemployment
Suppose the government has enacted policies to influence the amount of good x that is supplied. These policies are most likely to improve the allocation of resources if good x is
a. basic research. b. a congested toll road. c. spinach. d. clothing.
A Gini coefficient of 0.1 represents more inequality in income distribution than a Gini coefficient of 0.9.
Answer the following statement true (T) or false (F)