Total profit of a competitive firm can be found by multiplying profit per unit times units sold
a. True
b. False
Indicate whether the statement is true or false
True
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Maintaining a fixed exchange rate over the long run is today
A) virtually impossible. B) more vulnerable to speculative attacks than in the past. C) preferable. D) possible only in special cases such as maintaining strict capital controls. E) aided by technology which allows instant movement of money between financial markets in different countries.
In macroeconomics, the vertical axis in a supply-demand model measures the price level rather than a particular product's price
a. True b. False Indicate whether the statement is true or false
A run on a bank may occur if
a. depositors withdraw some funds to invest in the stock market. b. required reserves are increased. c. interest rates are raised. d. depositors lose confidence in the bank and attempt to withdraw all their funds. e. All of the above are correct.
The expenditure method of calculation of GDP is as follows: GDP = Consumption + Investment + Government Spending + Net Exports
a. True b. False Indicate whether the statement is true or false