As exit from a perfectly competitive industry that is currently unprofitable pushes up the market price, producers will move from a situation where price ____ average total cost to one where price ____ average total cost.
a. exceeds; equals
b. is less than; equals.
c. equals; is less than.
d. equals; exceeds.
b
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If Pastry Paradise takes over Sweet Tooth, at what level of production would it be indifferent between which technology is used
a. 500 b. 750 c. 250 d. 125
The Federal Open Market Committee began operating in:
A. 1914. B. 1929. C. 1936. D. 1913.
The above figure shows two Lorenz curves. Lorenz curve A shows the distribution of income and Lorenz curve B shows the distribution of wealth. Which statement below is CORRECT?
A) The Lorenz curve for wealth shows that wealth is distributed less equally because wealth does not include human capital. B) The Lorenz curve for income shows that income is distributed less equally because income does not include income from stocks and bonds. C) The Lorenz curves show wealth is greater than income. D) The Lorenz curves show income is greater than wealth.
An increase in planned investment would be likely to cause
a. an increase in planned consumption. b. an increase in the rate of planned saving in the economy. c. an expanding level of national income. d. All of these.