For a perfectly competitive palm tree nursery in South Carolina, the total revenue curve is
A) downward sloping.
B) a horizontal line.
C) upward sloping.
D) U-shaped.
E) undefined because the firm is perfectly competitive.
C
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Flexible exchange rates exist when
A) no one knows what the true value of a currency is. B) governments and central banks spend foreign reserves to prop up an exchange rate at a certain level. C) exchange rates are determined by forces of supply and demand. D) speculators bet that a currency will soon be depreciated.
Jacqueline has a Ph.D. in economics. She has turned down many job offers because she eventually hopes to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is: a. frictional unemployment. b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment
e. underemployment.
If government rules and regulations hurt free trade then
A) one might find higher levels of investment. B) one might find more corruption. C) one might find positive externalities. D) all of these choices
Which type of audit involves the task of reviewing documents?
a. financial statement audit b. operational audit c. compliance audit d. integrated audit e. all of these