Figure 10-3
?
In Figure 10-3, the perfectly competitive firm is realizing a
A. loss equal to ABCE.
B. profit equal to ABCE.
C. profit equal to ABDF.
D. loss equal to ABDF.
Answer: C
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If all government budgets are balanced, and S is greater than I, then
A) the net international investment position must be positive. B) the financial account must be positive. C) the financial account must be negative. D) the net international investment position must be negative. E) Both A and B.
Using the CPI to compensate workers for inflation is appropriate because, in the face of a change in relative prices, people should be allowed to purchase the same bundle as they did before the price changes
Indicate whether the statement is true or false
a. Product markets
a. Money markets b. Resource markets c. Stock markets d. Product markets
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.