Suppose at a certain quantity of output, a firm's average-total-cost curve lies above its demand curve. At this quantity of output, the firm:
a. is earning negative economic profit.
b. is earning zero economic profit.
c. is maximizing profit.
d. should increase its output to maximize profit.
e. should reduce output to maximize negative economic profit.
a
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Anthropogenic pollutants
a. are absorbed naturally through the assimilative capacity of nature b. are human-induced contaminants, such as fossil fuel combustion c. are of little concern to environmental policy makers d. come from nonartificial processes in nature, such as salt spray from oceans
In the presence of heteroskedasticity, the usual OLS estimates of:
A. standard errors are valid, whereas the t statistics and F statistics are invalid. B. t statistics are valid, but the standard errors and F statistics are invalid. C. F statistics are valid, but the standard errors and t statistics are invalid. D. standard errors, t statistics, and F statistics are invalid.
In late 2008, the U.S. government extended unemployment insurance benefits for seven additional weeks, in recognition of the growing unemployment problem. This extension is an example of
A) automatic fiscal policy. B) discretionary fiscal policy. C) expansionary monetary policy. D) supply-side fiscal policy.
GDP minus the net income of foreigners is: a. personal income
b. national income. c. GNP. d. net national income.