Which of the following defines total profit?
a. average revenue minus average cost
b. marginal cost times output
c. marginal revenue minus marginal cost
d. total revenue minus total cost
e. average cost divided by output
D
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A capitation arrangement between the plaintiff and the defendant in a lawsuit helps to reduce the problems of monitoring and uncertainty associated with a principal/agent relationship
Indicate whether the statement is true or false
When is debt financing most likely to harm future generations of Americans?
a. When the debt is held by domestic investors. b. Any time the debt is held by foreign investors. c. When the debt is held by foreign investors and the funds are channeled into productive investment projects. d. When the debt is held by foreign investors and the funds are used to finance either current consumption or unproductive investments.
The value of Austria's exports minus the value of Austria's imports is called
a. Austria's net exports. b. Austria's net imports. c. Austria's foreign portfolio investment d. Austria's foreign direct investment.
The aggregate supply curve is:
A. downward-sloping. B. the sum total of the production of all the firms in the economy for every level of profit. C. the relationship between the overall price level and total production by firms. D. the sum total of the production of all the firms in the economy for every given demand level.