The owner of a perfectly competitive firm that is earning economic losses in the short run
A) should alter the rate of output in order to increase profitability.
B) should cut his own salary in order to reach the break-even point.
C) is actually losing more than he thinks because not all of the implicit costs have been considered.
D) is earning less than he would if he worked for someone else.
Answer: D
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The private sector balance is saving ________ investment. If saving exceeds investment, a private sector ________ is lent to other sections. If investment exceeds saving, borrowing from other sectors finances a private sector ________
A) minus; deficit; surplus B) plus; surplus; deficit C) minus; surplus; deficit D) plus; deficit; deficit E) minus; surplus; surplus
Doomsday projections have generally
a. been correct. b. been incorrect, but with better technology and the ability to predict the future, these forecasts have become much more accurate in the last few decades. c. been inconsistent. Some projections came true, others failed. d. been wrong.