A profit-seeking firm will choose the combination of inputs that:
A. maximizes profit.
B. maximizes costs.
C. has the lowest average variable cost.
D. has the lowest average total cost.
A. maximizes profit.
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The demand for loanable funds is downward sloping because the ________ the interest rate, the ________ the number of profitable investment projects a firm can undertake, and the ________ the quantity demanded of loanable funds
A) greater; greater; greater B) lower; greater; greater C) greater; smaller; greater D) lower; smaller; greater
According to the text, today's Lorenz curve is
A) a straight line. B) a vertical line. C) more bowed than in 1929. D) less bowed than in 1929.
Which buyers and sellers are included in the market under consideration depends on:
A. their physical proximity. B. the context. C. their preferences. D. the income levels.
One important unintended consequence of the Smoot-Hawley Tariff Act was to:
a. lessen the severity of the Great Depression by increasing exports. b. provide the federal government with an effective tool for exercising monetary policy. c. decrease the efficiency of domestic automobile production. d. cause other countries to retaliate and thus leading to a decline in exports. e. increase the U.S. government budget deficit by $15 million.