Countries that trade a small amount with a single foreign country tend to float their exchange rate to the foreign country's currency
Indicate whether the statement is true or false
TRUE
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The figure above shows a perfectly competitive firm. When the firm maximizes its profit, its total revenue is
A) $1,200. B) $900. C) $600. D) unable to be determined without more information.
Average variable cost:
a. first tends to decrease, and then increase as output expands. b. remains unchanged as output expands c. always increases as output increases. d. always decreases as output expands.
In 2009, the U.S. had a budget deficit of approximately
a. $161 billion. b. $459 billion. c. $800 billion. d. $1.4 trillion.
Rational choice requires that opportunity cost be
a. ignored in making a decision. b. considered for individual choices, but not for societal choices. c. computed, but not actually used in making a decision. d. considered as part of making a decision. e. used as the sole decision criterion.