A defined benefits plan
A) is always fully funded.
B) may be underfunded but cannot be overfunded.
C) may be overfunded but cannot be underfunded.
D) may be either underfunded or overfunded.
D
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A firm's shutdown point is the quantity and price at which the firm's total revenue just equals its
A) total cost. B) total variable cost. C) total fixed cost. D) marginal cost.
Look in your wallet. Your credit cards are
a. M1 money b. M2 and fiat money c. fiat money d. near money e. not money
Consider the relationship given by QCars = 100 + 4 × PCars - 2 × PSteel - 0.2 × PWorkers, where QCars is the quantity of cars supplied (in thousands), PCars is the price of cars (in thousands of dollars), PSteel is the price of steel, and PWorkers is the wage earned by autoworkers. If the price of steel is $10 per unit and the price of workers (the wage) is $20, what is the supply curve for cars?
A. QCars = 124 + 4 × PCars B. QCars = 100 + 4 × PCars - 2 × PSteel - .2 × PWorkers C. QCars = 100 + 4 × PCars D. QCars = 76 + 4 × PCar
The country with a comparative advantage in the production of good X is the one that:
A. can produce good X at the lowest opportunity cost. B. can produce good X with the least labor. C. has the greatest supply of the natural resources used in producing good X. D. has the greatest technical efficiency in producing good X.