In a major policy document, what did the U.S. Department of Defense say "may act as an accelerant of instability or conflict" in the future, and will force "civilian institutions and militaries around the world" to respond?
a. climate change
b. resource shortages
c. air pollution
d. oil prices
a. climate change
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Producer surplus definitely exists when the
A) price exceeds marginal benefit. B) price exceeds marginal cost. C) marginal cost exceeds the price. D) marginal benefit exceeds the price. E) marginal benefit exceeds the marginal cost.
Refer to Figure 12-1. If the firm is producing 200 units
A) it should increase its output to maximize profit. B) it is making a loss. C) it breaks even. D) it should cut back its output to maximize profit.
In 2001-2002, the fast food industry underwent tremendous growth
Indicate whether the statement is true or false
Everything else held constant, an increase in financial frictions ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply