Refer to Figure 13-8. At the profit-maximizing output level the firm will
A) earn a profit of $60. B) break even.
C) earn a profit of $176. D) earn a profit of $88.
D
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Assuming all else equal, if the real interest rate increases, it will lead to:
A) a decrease in the quantity of credit demanded by a firm. B) a rightward shift of the credit demand curve of a firm. C) a leftward shift of the credit demand curve of a firm. D) an increase in the quantity of credit demanded by a firm.
The table above shows some data that describe Tom's T-Shirts' total product when Tom has 1 sewing machine
An increase in the number of workers from 1 to 2 a day increases average product of labor from ________ T shirts per worker and marginal product of labor is ________ T shirts per worker. A) 10 to 11; 22 B) 10 to 22; 12 C) 10 to 22; 22 D) 10 to 11; 12
The total of all planned production for the economy is
A) aggregate supply. B) aggregate demand. C) endowments. D) real-balance effect.
Ryan lives in an apartment where he pays $7,000 a year in rent. Sarah lives in a house that could be rented for $21,000 a year. How much do these housing services contribute to GDP?
a. $21,000 b. $28,000 c. $7,000 d. $14,000