Profit maximization is
a. the only motive of any firm's management.
b. a behavioral assumption to simplify analysis.
c. the same as satisficing.
d. a literal description of a firm's behavior.
b
Economics
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An expansionary monetary policy lowers the real interest rate, causing the domestic currency to ________, thereby ________ net exports
A) appreciate; raising B) appreciate; lowering C) depreciate; raising D) depreciate; lowering
Economics
In the long run if there is a shortage in the market for a product, the guiding (allocation) function of price can be expected to cause
A) an increasing shift in the demand for the product. B) a decreasing shift in the demand for the product. C) an increasing shift in the supply of the product. D) a decreasing shift in the supply of the product.
Economics