If P > ATC then economics profits are positive
a. true
b. false
Answer: a. true
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The level of saving in the United States has historically been low relative to the level of domestic investment. Based on this information, we would expect that
A) U.S. private saving is less than its public saving. B) U.S. capital inflows are negative. C) U.S. net foreign investment has been relatively high. D) U.S. net exports have been relatively low.
A monopoly market is:
A. a market with many sellers. B. a market with a single seller. C. a market with a few sellers. D. a market with a single buyer.
The cutthroat competitor is on the opposite end of the competitive spectrum from the __________________.
Fill in the blank(s) with the appropriate word(s).
Based on the graph for saving incentives, a tax law change encouraging saving would ______.
a. create a higher equilibrium quantity of loanable funds exchanged
b. create a lower equilibrium quantity of loanable funds exchanged
c. have no influence on the equilibrium quantity of loanable funds exchanged
d. drive the equilibrium quantity of loanable funds exchanged to zero