Refer to the graph shown. If the firm is producing 250 units of output, profit is equal to:
A. -$38.
B. $38.
C. $0.
D. $30.
Answer: C
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The evolution of the payments system from barter to precious metals, then to fiat money, then to checks can best be understood as a consequence of the fact that
A) paper is more costly to produce than precious metals. B) precious metals were not generally acceptable. C) precious metals were difficult to carry and transport. D) paper money is less accepted than checks.
When Fed policy is being used to offset an inflationary gap, which of the following variables increases as a result? a. Aggregate demand. b. Investment
c. Net Exports. d. Interest rates.
Researchers have found that LED light bulbs use significantly less energy than incandescent light bulbs while producing the same amount of light. However, producing LED light bulbs is significantly more costly than producing incandescent light bulbs. In order to encourage light bulb manufacturers to produce more LED light bulbs, which of the following is most likely to happen?
A. The government will tax LED light bulbs. B. The government will impose a tax on incandescent light bulbs. C. The government will subsidize LED light bulbs. D. The government will subsidize the production of incandescent light bulbs.
Child labor limits educational opportunities in developing countries and slows the rate of growth of technological change.
Indicate whether the statement is true or false