Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. A soybean farmer's ________ level of output is 1,000 units of output.
A. loss-minimizing
B. shut-down
C. break-even
D. profit-maximizing
Answer: D
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Suppose a firm hires labor in a competitive labor market. When will hiring more labor increase the firm's profit?
a. When the marginal revenue product of labor exceeds the wage rate. b. When the marginal product of labor is positive. c. When the marginal labor cost is falling. d. When the wage rate is less than the firm's marginal cost of production.
According to the infant-industry argument, protection should be withdrawn from an infant industry when the companies in the industry
A) are listed on the domestic stock exchange. B) become profitable. C) double their sales revenues. D) reach a sufficient size to compete with foreign firms.
Which of the following is consistent with secular deflation?
A. a persistently decreasing price level caused by money being withdrawn from the economy B. a persistently increasing price level caused by several periods of economic growth with decreasing AD C. a persistently decreasing price level caused by several periods of economic growth with stable AD D. a persistently decreasing price level caused by increases in government expenditures
The M2 definition of money includes demand deposits.
Answer the following statement true (T) or false (F)