The Bretton Woods exchange rate system was an example of a

Refer to Figure 16.1. If a firm expects that consumer preference for its product will increase in the future, this is best represented by a movement from

A) point A to point C. B) point B to point A. C) point A to point B. D) point C to point A.

Suppose that you open your own business and earn an accounting profit of $30,000 per year. When you started your business, you left a job that paid you a $25,000 salary annually

Also, suppose that you invested $70,000 of your own funds to start up your business. If the normal rate of return on capital is 5 percent, your economic profit is A) $5,000. B) -$1,500. C) $1,500. D) -$5,000.