Total profit
A. is the rectangle bounded by OLTF.
B. is the rectangle bounded by OKER.
C. is the rectangle bounded by LMGF.
D. None of the choices are correct.
C. is the rectangle bounded by LMGF.
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A bond that pays a yearly interest rate of $100 is for sale. The interest rate was 10 percent and now is 5 percent. The price of the bond has
A) decreased from $1000 to $500. B) increased from $1000 to $2000. C) decreased from $2000 to $1000. D) increased from $500 to $2000.
Which of the following is least accurate?
a. In 2007, the United States imports significantly more than it exports. b. Tariffs from imported goods accounted for over 90% of federal government revenue for the first 80 years of the United States. c. The largest trading partner of the colonial United States was England. d. In the late 1800s the US significantly increased its imports of raw materials to fuel its increased production of manufactured goods. e. During the Napoleonic War, the United States' exports decreased significantly because the war disrupted trade routes.
Any costly activity firms undertake to protect their monopoly status is referred to as
a. market power b. price-setting behavior c. rent seeking d. economies of scale e. legal intervention
The expenditures approach to GDP equals
A. Consumption + Net Investment (Gross Investment-Depreciation) + Government Purchases + Net Exports. B. Consumption + Gross Investment + Government Purchases + Net Exports. C. Employee Compensation - Profit - Net Property Income - Indirect Business Taxes-Depreciation - Income Earned Abroad. D. Employee Compensation + Profit + Net Property Income + Indirect Business Taxes + Depreciation - Income Earned Abroad.