Net foreign factor income is ________.
A. the income people in a country receive from resources owned in foreign countries
B. the income people in foreign countries receive from resources owned domestically
C. the difference between the values of a country's exports and imports
D. the difference between the income people in a country receive from resources owned in foreign countries and the income people in foreign countries receive from resources owned domestically
Answer: D
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The monopolist, unlike the perfectly competitive firm, continues to earn an economic profit in the long run because
a. it can charge a higher price than its competitors and not lose market share b. it can innovate, using its profit as research investment c. it can out-compete its competitors d. it has considerable market share e. of impossible-to-overcome barriers to entry
According to the signaling view, education
a. has no effect on lifetime earnings. b. alters work ethic. c. enhances productivity. d. is an indicator of natural ability.
Frank owns an apple farm and plans to spend 4 hours today picking apples. The number of apples he can pick per hour depends on the total number of hours he spends working in either the east orchard or the west orchard in the manner shown in the accompanying table below.Hours in East OrchardNumber of Apples Per HourHours in West OrchardNumber of Apples Per Hour140110232210325310420410 If Frank spends 2 hours picking apples in the east orchard and 2 hours picking apples in the west orchard, how many apples in total will Frank be able to pick today?
A. 21 B. 42 C. 92 D. 84
The MC curve intersects the ATC and AVC curves ______.
a. when MC is greater than ATC
b. when MC is less than AVC
c. at those curves’ minimum points
d. at those curves’ highest points