In recent years, the national debt was about 120 percent of the U.S. GDP
a. True
b. False
Indicate whether the statement is true or false
False
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If a firm traded on the New York Stock Exchange posts an accounting profit of $10 million, then the firm is making a positive economic profit
A) only if the Securities and Exchange Commission (SEC) approves the accounting report. B) only if the firm's opportunity cost is less than $10 million. C) only if the firm's opportunity benefit is more than $10 million. D) only if the firm's management receives stock compensation.
Suppose when the price of calculators is $18, the quantity demanded is 90, and when the price is $22, the quantity demanded drops to 70. Using the mid-point method, the price elasticity of demand is:
A. -25 B. - 1.25 C. - 20 percent D. - 25 percent
Which of the following is NOT a type of market structure?
A. Monopolistic oligopoly B. Perfect competition C. Monopoly D. Monopolistic competition
In general, individuals and nations should specialize in producing goods ________ other individuals or nations.
A. for which they have a lower opportunity cost compared to B. that they can produce less quickly than C. for which they have a higher opportunity cost compared to D. that they can produce more quickly than