Economic models explore decision making by individuals, firms and other organizations.
Answer the following statement true (T) or false (F)
True
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________ refers to the overall political and financial situation of a country, and the extent to which these conditions may affect the ability of a country to repay its debts
A) Debt-rescheduling B) IMF conditionality C) Country risk D) International debt
Another term to describe the normal rate of return on capital is the
A) fixed cost of capital. B) depreciation cost of capital. C) opportunity cost of capital. D) monopoly rent.
The long-run equilibrium condition for firms that operate in perfect competition is
a. P = AVC = MR = MC b. P = ATC = MR = MC c. Q = AVC = MR = MC d. Q = ATC = MR = MC e. TR = ATC = MR = MC
Why is deadweight loss less with the deficiency payment program than with surplus purchasing price support programs?
What will be an ideal response?