A nation's merchandise trade balance reflects
a. trade in tangible products
b. value of exports
c. value of imports
d. the same information as its balance of payments
e. trade in tangibles and intangibles
A
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A movement from point N to point L would represent
A. an increase in both consumer goods and capital goods.
B. a decrease in both consumer goods and capital goods.
C. an increase in consumer goods, but a decrease in capital goods.
D. an increase in capital goods, but a decrease in consumer goods.
Unanticipated inflation benefits
A) people or businesses who owe funds. B) people or businesses who lend funds. C) people who live on a fixed income. D) people with CDs (certificates of deposits) in the bank.
A nondiscriminating monopolist earning positive short-run economic profit determines that its current marginal cost is $15 and its current marginal revenue is $20 . To maximize profit, a firm should
a. raise price and increase output b. raise price and decrease output c. maintain a constant price and increase output d. reduce price and increase output e. shut down
A firm has average fixed costs of $0.20 and average variable costs of $2.50 at an output of 500 units. The firm's total costs are therefore
A. $1,150. B. $1,350. C. $1,250. D. $1,500.