"The money supply multiplied by velocity must equal GDP" is a statement of the

Let's assume producers in Canada can make 200 units of beef or 50 units of oranges, and U.S. producers can make 50 units of beef or 200 units of oranges per time period

Producers in which nation have an incentive to specialize in orange production? A) The U.S. B) Canada C) Both of the above have an incentive to specialize in orange production. D) Neither of the above have an incentive to specialize in orange production.

If a perfectly competitive firm charges the market price of $14 per unit,

a. its marginal revenue is $14, and its average revenue is less than $14 per unit b. it will sell no output c. its average revenue is $14, and its marginal revenue is less than $14 per unit d. its average revenue is $14, and its marginal revenue is $14 e. its average and marginal revenue are $14 only for the first unit sold