The long-run equilibrium for a monopolistically competitive firm is to the left of the low point on its average total cost curve.
Answer the following statement true (T) or false (F)
True
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The Asian financial crisis was brought about by:
A. debt crisis. B. exchange rate crisis. C. excessive loss of national resources. D. None of these statements is true.
China, the last large communist society,
a. has proved that a command economy has far less pollution problems than capitalist economies. b. has urban smog levels higher than Los Angeles. c. has the world's most sophisticated pollution-control devices. d. has lowered its level of pollution dramatically since 1980.
Your friend is thinking of opening a video store. She estimates it would cost $500,000 a year to rent the store and buy video stock. She is planning to quit her $50,000 a year job as an accountant to run the store. If there are no other costs of operation and the store's revenue is $530,000, the accounting profits will be
a. $50,000 b. $20,000 c. -$20,000 d. $30,000 e. $530,000
In the 1950's and 1960's the European unemployment rate tended to be ________ the U.S. unemployment rate, while in the 1990's the European unemployment rate tended to be ________ the U.S. unemployment rate.
A. lower than; lower than B. lower than; higher than C. higher than; higher than D. higher than; lower than