If a monopolistically competitive firm breaks even, the firm
A) is earning zero accounting and zero economic profit.
B) should expand production.
C) is earning an accounting profit and will have to pay taxes on that profit.
D) should advertise its product to stimulate demand.
C
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An individual or country that has a comparative advantage in the production of one good
A) may or may not have an absolute advantage in the good's production. B) must have an absolute advantage in the good's production. C) must not have an absolute advantage in the good's production. D) must not have an absolute advantage in the production of the other good.
Refer to Table 5.1. Ranked highest to lowest in expected income, the majors are
A) economics, accounting, English, mathematics, political science. B) mathematics, English, political science, accounting, economics. C) economics, accounting, mathematics, English, political science. D) English, economics, mathematics, accounting, political science. E) accounting, English, mathematics, political science, economics.
Workers in the U.S. economy get most of their skill training in school
Indicate whether the statement is true or false
According to Fed Chairman Bernanke's analysis of the Depression-era financial system,
a. bank lending was often based on long-term relationships between banks and customers. b. after the banking system collapsed, it recovered quickly due to government intervention. c. bank lending at large was a severely depersonalized endeavor by 1925, which caused risky loan practices. d. Both a and b are correct.