A government may view with favor its country's importing more than it exports provided that the
a. exports are to the countries from which it imports
b. imports are luxuries that have little effect on the economy
c. imports are capital goods such as machinery that will be used to create future exports
d. balance of payments still nets out to zero
e. countries exporting to it are willing to increase their tariffs to restore balance
C
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A change in the price level brings a ________ the aggregate supply curve, NOT a ________ the aggregate supply curve
A) vertical displacement of; change in the slope of B) change in the slope of; horizontal displacement of C) shift in; change in the slope of D) movement along; shift in E) shift in; movement along
For a perfectly competitive firm that should continue to operate in the short run, loss is minimized where
a. MR is maximized b. MR = MC c. P < MC d. MR < MC e. MR > ATC
What is the standard deviation of the payoff from an investment that yields $5,000 with a probability of 0.15 and $500 with a probability of 0.85?
A. $0 B. $2,581,875 C. $42.50 D. $1,606.82
Which of the following is not a source of economies of scale?
A. Learning-by-doing. B. Labor specialization. C. Use of larger machines. D. Inelastic resource supply curves.