Adding value means
A) to make products that have positive prices.
B) that the value of a firms output is greater than the value of the output that was not produced by the inputs the firm employs.
C) that the firm has a positive economic profit.
D) that economic profit is zero.
B
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All of the following encourage increases in technological progress EXCEPT
A) closed economies. B) larger markets through free trade. C) the possibility of monopoly profits. D) the ability to patent a new invention.
What is the difference between an "increase in demand" and an "increase in quantity demanded"?
A) An "increase in demand" is represented by a movement along a given demand curve, while an "increase in quantity demanded" is represented by a rightward shift of the demand curve. B) There is no difference between the two terms; they both refer to a movement downward along a given demand curve. C) An "increase in demand" is represented by a rightward shift of the demand curve while an "increase in quantity demanded" is represented by a movement along a given demand curve. D) There is no difference between the two terms; they both refer to a shift of the demand curve.
The reserves of financial institutions:
a. Are assets that financial institution's try to keep at the legal limit. b. Are made up mainly of government securities and high quality corporate bonds. c. Include the liability called "Borrowing from the central bank." d. None of the above is correct. e. Are the largest liability in a financial institution's balance sheet.
In which of the decades below was the deficit as a percentage of GDP the largest?
A. The 1950s B. The 1970s C. The 1960s D. The 1980s