If the value of the output generated by a country's factors of production within the borders of foreign countries is higher than the value of output of foreign factors of production within its borders, ________
A) the GDP of the country is higher than its GNP B) the GDP of the country equals its trade balance
C) the GDP of the country equals its GNP D) the GDP of the country is lower than its GNP
D
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If potential GDP is equal to $600 billion, what does the long-run aggregate supply curve look like?
A) It is a vertical line at a level of GDP above $600 billion. B) It is a vertical line at $600 billion of GDP. C) It is a horizontal line at $600 billion of GDP. D) It is a vertical line at a level of GDP below $600 billion.
Which of the following acts was/were designed to take out the risk in the securities industry?
(a) Truth in Securities Act of 1933 (b) Fair Labor Standards Act of 1938 (c) Social Security Act of 1935 (d) All of the above
The individual with the highest valuation of the good will win in which of the following auctions?
A) English Auction B) Dutch Auction C) Sealed Bid Auction D) All of the above.
If price is less than its minimum average variable cost, a perfectly competitive firm that continues to produce in the short run
a. cannot cover any of its variable cost b. incurs a loss greater than its fixed cost c. can cover all of its fixed cost and some of its variable cost d. can cover all of its variable cost and some of its fixed cost e. can cover both its fixed costs and its variable cost