Unequal incomes arise from
a. discrimination.
b. luck.
c. different schooling.
d. all of the above factors.
d
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Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which of the following statements is definitely true?
A. The firm will earn positive accounting and economic profits B. The firm will face accounting and economic losses C. The firm will face an accounting loss, but earn positive economic profits D. The firm may earn positive accounting profits, but will face economic losses
The aggregate demand curve slopes downward in part due to the:
A. negative relationship between the price level and net exports. B. positive relationship between the price level and exports. C. negative relationship between the price level and imports. D. All of these are true.