Exchange rates will affect imports and exports, and thus affect aggregate ______ in the economy.
a. production
b. sales
c. supply
d. demand
d. demand
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A firm wanting to maximize profits should operate in such a way that
A) the MRP of each input is equal to or greater than its MFC. B) MRP equal MFC in the input market but MC must exceed MR in the output market. C) marginal revenue must be equal to the marginal revenue product. D) none of the above.
Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. At Point A the slope of the line is 0.67, so at Point C the slope would be
A. greater than 0.67. B. equal to 0.67. C. less than 0.67. D. indeterminate from this information.
In a certain economy, the components of aggregate spending are given by: C = 500 + 0.8(Y - T) - 300rI = 200 - 400rG = 200NX = 10T = 150 Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 4 percent?
A. 1,372 B. 3,810 C. 3,860 D. 762
The above figure illustrates a firm's total revenue and total cost curves. Which one of the following statements is FALSE?
A) Economic profit is the vertical distance between the total revenue curve and the total cost curve. B) At output Q1 the firm makes zero economic profit. C) At an output above Q3 the firm incurs an economic loss. D) At output Q2 the firm incurs an economic loss.