Signals are
A) used by economic decision-makers to inform others about their plans.
B) the method by which government planners inform economic decision-makers about the types of decisions they should make.
C) the method by which firms determine their profit maximizing quantity.
D) compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed.
D
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Historically, the key role in assisting countries that ran into financial difficulties was played by
A) Europe. B) Japan. C) the IMF. D) the United Nations.
Suppose a perfectly competitive firm's minimum average variable cost is $3 when it produces 50. If the price is $2 and the firm's marginal cost is $2, the firm should
A) continue to produce, but produce more than 50. B) continue to produce 50. C) continue to produce, but produce less than 50. D) shut down. E) continue to operate, but to determine the amount of production needs more information than is given.