The key interest rate in the Eurocurrency market is the
A) London interbank offer rate.
B) Eurobank spread rate.
C) Prime rate.
D) C.D. rate.
A
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Lauren runs a chili restaurant in San Francisco. Her total revenue last year equaled $111,000. The rent on her restaurant totaled $48,000. Her labor costs totaled $43,000. Her materials, food and other variable costs totaled $19,000
To Lauren's accountant, Lauren A) incurred a loss of $1,000. B) earned a profit of $1,000. C) incurred a loss of $111,000. D) earned a profit of $111,000. E) had a total cost equal to $91,000.
Refer to Figure 2-13. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of both pineapples and coconuts?
A) neither country B) Costa Rica C) Guatemala D) cannot be determined
"By producing at an output rate at which marginal revenue equals marginal cost, a firm is definitely making positive economic profits." Do you agree or disagree? Why?
What will be an ideal response?
Under perfect competition, if an industry is characterized by positive economic profits in the short run:
a. firms will leave the market in the long run and the short-run supply curve will shift outward. b. firms will enter the market in the long run and the short-run supply curve will shift outward. c. firms will enter the market in the long run and the short-run supply curve will shift inward. d. firms will leave the market in the long run and the short-run supply curve will shift inward.