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queeny queeny
wrote...
Posts: 512
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6 years ago
To graph a relationship that involves more than two variables, we use the ceteris paribus assumption.
 
  Indicate whether the statement is true or false



Ques. 2

You are studying with a friend and your friend says, Private goods are excludable and nonrival, while public goods are nonexcludable and rival. Do you agree?
 
  What will be an ideal response?



Ques. 3

The above table has the demand for money schedule.
 
  a) If the Fed supplies 1.1 trillion dollars, what is the equilibrium interest rate?
  b) Discuss how equilibrium is restored if the interest rate is greater than the equilibrium rate found in part (a).



Ques. 4

In the figure above, what is Gap's economic profit?
 
  A) zero
  B) 5,000
  C) -5,000
  D) -1,160



Ques. 5

The paradox of value can be resolved by distinguishing between
 
  A) quantity demanded and quantity supplied.
  B) supply and quantity supplied.
  C) normative and positive statements.
  D) total utility and marginal utility.



Ques. 6

If firms in a competitive market are ________ then there is ________ for firms to ________ the industry.
 
  A) incurring economic losses; an incentive; exit
  B) incurring economic losses; no incentive; exit
  C) making economic profits; no incentive; enter
  D) making zero economic profit; an incentive; exit
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raven2illraven2ill
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6 years ago
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queeny Author
wrote...
6 years ago
So that's it? I get an expert answer then we move on with our lives? Not too bad Smiling Face with Open Mouth
wrote...
6 years ago
we do it for the love of comments
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