A relationship between two events where one event occurring brings about the other is described best as:
A. a pattern.
B. a trend.
C. causation.
D. correlation.
C. causation.
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A price-taking firm's variable cost function is C = Q3, where Q is the output per week. It has a sunk fixed cost of $2,000 per week. Its marginal cost is MC = 3Q2. What is the profit-maximizing output if the price is P = $192?
A. 0 B. 6 C. 8 D. 10
Most economists feel that the ability to alter the unemployment rate with fiscal and monetary policies is ______.
a. more limited than previously believed b. more powerful than previously believed c. impossible d. easy
Which of the following actions gave Ralph an indirect ownership share in a corporation?
a. He holds stock in a technology firm. b. He bought products from a large department store. c. He invested for retirement in a mutual fund. d. He bought gift certificates from a restaurant chain.
What does a current account deficit do that is positive for a nation?
What will be an ideal response?