The United States first became a creditor nation in the year _______.
Fill in the blank(s) with the appropriate word(s).
1914
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Which of the following would cause the unemployment rate as measured by the Bureau of Labor Statistics to overstate the true degree of joblessness in the economy?
A) discouraged workers B) unemployed persons who falsely report themselves as actively looking for a job C) retired people who have no intention of returning to work D) people with part-time jobs who would prefer to be working full time
You operate a factory that produces beach towels. Your current level of output equals 2,000 towels per week. Your weekly variable cost equals $8,000 . If your total cost each week equals $9,000 . it follows that:
a. the average variable cost of production equals $2 per towel. b. the average variable cost of production equals $4 per towel. c. the average total cost of production equals $8 per towel. d. none of the above
A profit-maximizing firm in a competitive market is able to sell its product for $7 . At its current level of output, the firm's average total cost is $10 . The firm's marginal cost curve crosses its marginal revenue curve at an output level of 9 units. The firm experiences a
a. profit of more than $27. b. profit of exactly $27. c. loss of more than $27. d. loss of exactly $27.
The difference between public goods and private goods rests on technical considerations of exclusion of use and not political philosophy.
Answer the following statement true (T) or false (F)