Examlex
Suppose the exchange rate is US$1 = ¥100. This means that
Normal Profit
The minimum amount of revenue that a company needs to cover both explicit and implicit costs.
Entrepreneurs
Individuals who, rather than working as employees, run a business and assume all the risks and rewards of a given business venture, idea, or good or service offered for sale.
Allocative Efficiency
A state of resource distribution where resources are allocated in a way that maximizes the total benefit received by all members of society.
Purely Competitive Industry
An industry characterized by many small firms producing identical products, where no single firm can influence the market price.
Q43: Suppose that the government could stimulate spending
Q73: Can a productively efficient economy be allocatively
Q100: (Figure: Determining Long-Run and Short-Run Economic Shifts)
Q107: Because a country does not want to
Q140: The World Bank<br>A) lends money to countries
Q141: According to international trade theory<br>A) every country
Q141: (Figure: Ships and Autos in Countries A
Q145: A country with a comparative advantage in
Q197: Free trade has no costs.
Q212: The value of a country's fixed exchange