In using a tanks and trucks production possibilities curve with increasing opportunity cost, producing more and more tanks
A. Is not possible due to scarcity.
B. Lowers the cost of each individual tank.
C. Requires us to give up larger and larger amounts of trucks per tank produced.
D. Can be done at a constant opportunity cost.
Answer: C
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What is happening in this perfectly competitive firm if the market price is P3?
a. In the short run and the long run the firm only makes positive accounting profits. b. In the short run and the long run firms will have normal profits c. In the short run the firm will make normal profits and in the long run the firm will make positive economic profits d. In the short run the firm will make positive economic profits but in the long run the firm will have negative economic profits. e. In the short run firms will have positive economic profit but in the long run firms will enter the market and drive profits back to normal
A corporation’s income is taxed
A. on a quarterly basis. B. when the returns are distributed to its owners. C. at very low rates to compensate for its unlimited liability. D. at the corporate level and at the level of its stockholders.
From 1929 to 1932, the total value of the stock market:
A. more than tripled. B. decreased by nearly 90 percent. C. more than quadrupled. D. stayed the same.
Suppose that over the past year, the real interest rate was 6 percent and the inflation rate was 4 percent. It follows that
a. the dollar value of savings increased at 6 percent, and the purchasing power of savings increased at 2 percent. b. the dollar value of savings increased at 6 percent, and the purchasing power of savings increased at 10 percent. c. the dollar value of savings increased at 10 percent, and the purchasing power of savings increased at 2 percent. d. the dollar value of savings increased at 10 percent, and the purchasing power of savings increased at 6 percent.