In the above figure, total cost for this profit-maximizing monopolistically competitive firm is
A. $70,000.
B. $50,000.
C. $72,000.
D. $91,000.
Answer: A
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Social Security benefits, welfare payments, and farm support payments are examples of:
A. public interest payments. B. investment spending. C. consumption spending. D. transfer payments.
The theory of portfolio choice suggests that the most important factor affecting the demand for domestic and foreign assets is
A) the level of trade and capital flows. B) the expected return on these assets relative to one another. C) the liquidity of these assets relative to one another. D) the riskiness of these assets relative to one another.
When there are omitted variables in the regression, which are determinants of the dependent variable, then
A) you cannot measure the effect of the omitted variable, but the estimator of your included variable(s) is (are) unaffected. B) this has no effect on the estimator of your included variable because the other variable is not included. C) this will always bias the OLS estimator of the included variable. D) the OLS estimator is biased if the omitted variable is correlated with the included variable.
If a transaction in the balance of payments of Country A enters the foreign exchange market, then it is fair to say that:
a. Actually by definition, transactions in a nation's balance of payments cannot enter into the foreign exchange market. b. Uses of funds in Country A's balance of payments are supplies of Country A's currency in the foreign exchange market. c. Uses of funds in Country A's balance of payments are demands for Country A's currency in the foreign exchange market. d. Sources of funds in Country A's balance of payments are demands for foreign currencies in the foreign exchange market.