During the 1870s, ___ surpassed ___ as the leading source of power
a. animals; humans
b. water; animals
c. steam; water
d. electricity; steam
c. steam; water
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Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her accounting profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
If a firm is operating at an output level where losses are minimized, the firm
A) has no incentive to stay in the industry. B) is better off exiting the industry. C) is maximizing profits. D) will shut down.
Firms in a small economy planned that inventories would grow over the past year by $300,000. Over that year, inventories actually grew by $400,000. This implies that
What will be an ideal response?
Consider covered investments between the United States and Japan. If Japanese interest rates decrease, interest arbitrage operations will most likely result in a(n)
A. purchase of yen in the spot market. B. increase in the forward exchange price of the dollar. C. sale of dollars in the forward market. D. increase in the spot exchange price of the yen.