Borrowing from abroad represents:
A) a capital outflow.
B) a capital inflow.
C) positive net savings.
D) none of the above.
B
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If GDP rises:
A) income and production must both fall. B) income and production must both rise. C) income must rise, but production may rise or fall. D) none of the above.
An increase in the price level causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; movement down along B) shift to the right of; movement down along C) movement down along; movement down along D) shift to the left of; movement up along
Suppose a farmer is a price taker for soybean sales with cost functions given by TC = .1q2 + 2q + 30 MC = .2q + 2 The profit maximizing level of output is
a. 0 b. 30 c. 40 d. 50
A major characteristic of monopolistic competition is:
A. a relatively large number of firms selling the product. B. relatively easy entry into an industry but a relatively difficult exit from the industry. C. a high degree of collusion among firms. D. mutual interdependence.