Refer to Figure 12-1. If the firm is producing 700 units
A) it should cut back its output to maximize profit. B) it is making a loss.
C) it is making a profit. D) it should increase its output to maximize profit.
A
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A factor-price effect occurs when increases in the industry's output
a. attract new firms to the industry. b. raise the cost of a variable input. c. cause new subindustries to be developed. d. result in lower prices for consumers.
Although it declined in the first quarter of 2009, the United States was still running a trade deficit, which means that the United States would have to
A) increase the money supply. B) decrease the value of its financial account. C) devalue the dollar. D) sell some of its assets to foreigners.
What economic impact would the closing of a nearby military base have on a town? Would people and businesses that did not directly deal with the military personnel be affected?
What will be an ideal response?
Lower interest rates cause the velocity of M1 to
A) turn negative. B) move erratically. C) increase. D) decline.