If a firm observes that the price of its product is above average variable cost, it would choose to continue to produce the good in the short run, even if that firm experiences economic losses
a. True
b. False
Indicate whether the statement is true or false
True
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M2 adds together:
A) currency in circulation, checking accounts, savings accounts, travelers' checks, and money market accounts. B) currency in circulation and currency held with foreigners. C) currency in circulation, savings accounts, and held with foreigners. D) currency in circulation, checking accounts, savings accounts, travelers' checks, and currency held with foreigners.
From 2012 until 2087, the CBO projects that, as a percentage of GDP, government revenues are expected to ________, government expenditure is expected to ________, and the budget deficit is expected to ________
A) increase; decrease; decrease B) decrease; increase; increase C) increase; increase; increase D) increase; increase; decrease
Would it make good sense for a community to seek to reduce its levels of pollution to zero? Why or why not?
Under a capitalist economic system,
a. the state owns all or most of the resources b. people are forced to work for a living c. resources are privately owned d. the government determines the allocation of resources e. prices eventually become unnecessary