The economizing process (choosing from among alternatives to maximize benefits)
A) applies only to consumers.
B) applies only to privately-owned firms.
C) applies only to producers.
D) is the same for producers as it is for consumers.
D
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Total income is defined as
A) the total amount earned by all resource owners. B) the sum of the total receipts of firms and the amount earned by households. C) the sum of the total receipts of firms less the amount of tax that must be paid. D) the total receipts of firms before taxes.
A firm that sells goods to foreign countries on a regular basis can avoid exchange-rate risk by
A) buying stock options. B) selling puts on financial futures. C) using a foreign exchange swap. D) buying swaptions.
Mexico's gains from NAFTA have benefited mostly:
a. unskilled workers. b. semi-skilled workers. c. higher-income workers. d. agricultural workers.
Which of the following is an example of a fixed cost?
A. Rent B. Insurance premiums C. Contract salaries D. All of these choices are fixed costs.