A firm will shut down permanently if total revenue is not sufficient to pay for total costs in the long run

During the first 6 months of 2008, the United States imported from Africa, Asia, and Latin America more than 1.6 billion pounds of coffee and did not export any coffee

How is the gain from imports distributed between consumers and domestic producers? A) U.S. producer surplus shrinks. B) U.S. consumer surplus increases. C) Total U.S. surplus increases. D) All the above answers are correct.

Recent estimates put the size of the underground economy in the United States at ________ of measured GDP

A) 2 percent B) 8 percent C) 13 percent D) over 50 percent