ECON Final Exam (MC Questions from Exams 1-3)
the measure of production that values output using base-year prices is called a) nominal GDP b) underground GDP c) value-added GDP d) real GDP
d) real GDP
Refer to Table 13-1. the unemployment rate for this simple economy equals a) (100/20,000) x 100 b) (100/1,100) x 100 c) (100/15,000) x 100 d) (100/1,000) x 100
b) (100/1,100) x 100
if the economy is currently producing at point C, what is the opportunity cost of moving to point B? a) 26 thousand forks b) 20 thousand spoons c) 60 thousand spoons d) 46 thousand forks
b) 20 thousand spoons
Refer to Table 12-12. consider the following data on nominal GDP and real GDP (values are in billions of dollars): the base year used in calculating real GDP is a) 2017 b) 2018 c) 2019 d) 2020
b) 2018
Refer to Table 8-2. what is the average product of labor when the orchard employs 5 workers? a) 270 bushels b) 54 bushels c) 40 bushels d) 8 bushels
b) 54 bushels
for each bottle of wine that Italy produces, it gives up the opportunity to make 10 pounds of cheese. France can produce 1 bottle of wine for every 25 pounds of cheese it produces. which of the following is true about the comparative advantage between the two countries? a) Italy has the comparative advantage in cheese b) Italy has the comparative advantage in wine c) France has the comparative advantage in wine and cheese d) France has the comparative advantage in wine
b) Italy has the comparative advantage in wine
eco energy is a monopolistically competitive producer of a sports beverage called power on. table 11-2 shows the firm's demand and cost schedules what is the output (Q) that maximizes profit and what is the price (P) charged? a) P = $55; Q = 5 cases b) P = $50; Q = 6 cases c) P = $45; Q = 7 cases d) P = $40; Q = 8 cases
b) P = $50; Q = 6 cases
if the marginal cost curve is below the average variable cost curve, then a) average variable cost is increasing b) average variable cost is decreasing c) marginal cost must be decreasing d) average variable cost could either be increasing or decreasing
b) average variable cost is decreasing
Refer to Figure 9-9. identify the short-run shut down point for the firm (would shut down temporarily at this point and everywhere below this point) a) a b) b c) c d) d
b) b
if the price of lattes, a normal good you enjoy, falls, then a) the income effect which causes you to increase your latte consumption outweighs the substitution effect which causes you to reduce your latte consumption, resulting in more lattes purchased b) both the income and substitution effects lead you to buy more lattes c) the substitution effect which causes you to increase your latte consumptions outweighs the income effect which causes you to reduce you latte consumption, resulting in more lattes purchased d) the income and substitution effects offset each other but the price effect leads you to buy more lattes
b) both the income and substitution effects lead you to buy more lattes
consumers maximize total utility within their budget constraint by a) spending the same dollar amount for each good b) buying the goods with the largest marginal utility per dollar spent c) buying whatever they like best d) buying the cheapest goods they can find
b) buying the goods with the largest marginal utility per dollar spent
both monopolistically competitive firms and perfectly competitive firms maximize profits a) by producing where price equals average total cost b) by producing where marginal revenue equals marginal cost c) by producing where marginal revenue equals average revenue d) by producing where price equals average variable cost
b) by producing where marginal revenue equals marginal cost
which of the following price indices comes closest to measuring the cost of living of the typical household? a) producer price index b) consumer price index c) GDP deflator d) household price index
b) consumer price index
what is the largest component of spending in the US? a) government purchases b) consumption spending c) net investment spending d) investment spending
b) consumption spending
over the past twenty years, the number of small family farms has fallen significantly and in their place there are fewer, but larger, farms owned by corporations. which of the following best explains this trend? a) diminishing returns to labor in farming b) economies of scale in farming c) decline productivity d) diseconomies of scale in farming
b) economies of scale in farming
which of the following statements is true? a) economics is a social science that studies the trade-offs we are forced to make because resources are unlimited b) every individual, no matter how rich or poor, is faced with situations that require trade-offs c) any time you have to decide which action to take you are experiencing economic equity d) trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as with a store's clearance sale
b) every individual, no matter how rich or poor, is faced with situations that require trade-offs
gross domestic product understates the total production of final goods and services because of the omission of a) inflation b) household production c) exports d) intermediate goods
b) household production
assume dina's diner only produces sliders and hot wings. a combination of 80 sliders and 50 hot wings would appear a) along dina's production possibilities frontier b) inside dina's production possibilities frontier c) outside dina's production possibilities frontier d) at the vertical intercept of dina's production possibilities frontier
b) inside dina's production possibilities frontier
which of the following increases labor productivity? a) a decline in the health of the population b) inventions of new machinery, equipment or software c) an increase in the aggregate hours of work d) decreases in the availability of computers and factory buildings
b) inventions of new machinery, equipment or software
in a closed economy, public saving plus private saving is equal to a) taxes minus transfers b) investment c) the budget surplus d) the budget deficit
b) investment
a perfectly competitive firm's supply curve is its a) marginal cost curve above its minimus average fixed cost b) marginal cost curve above its minimum average variable cost c) marginal cost curve above its minimum average total cost d) marginal cost curve
b) marginal cost curve above its minimum average variable cost
an avocado orchard employs five full-time workers. currently, the average product of labor is 120 pounds of avocados per day. the orchard hires a 6th full-time worker and his marginal product is 150 pounds of avocados. the average product of the six workers will now be a) greater than the marginal product of labor b) more than 120 lbs c) equal to 120 lbs d) less than 120 lbs
b) more than 120 lbs
the relationship between the inputs employed by a firm and the maximum output that it can produce with those inputs is the firm's a) average product of labor b) production function c) marginal product of labor d) supply curve, or supply schedule
b) production function
the labor force equals the number of people a) in the working-age population b) employed c) employed plus unemployed d) unemployed
c) employed plus unemployed
a student who just graduated from college but has not found a job would most likely be a) structurally unemployed b) cyclically unemployed c) frictionally unemployed d) seasonally unemployed
c) frictionally unemployed
during a business cycle expansion, total production ________ and total unemployment ________. a) increases; increases b) decreases; decreases c) increases; decreases d) decreases; increases
c) increases; decreases
if real GDP in a small country in 2019 is $8 billion and real GDP in the same country in 2020 is $8.3 billion, the growth rate of real GDP between 2019 and 2020 a) is 3.0% b) is 3.6% c) is 3.75% d) cannot be determined from the information given
c) is 3.75%
tony's italian ice is a monopolistically competitive firm. if tony's earns a profit in the short run, which of the following is most likely to occur a) new firms that sell italian ice will enter the market and tony's cost curves will shift to the left b) new firms that sell italian ice will enter the market and tony's demand curve will shift to the right c) new firms that sell italian ice will enter the market and tony's demand curve will shift to the left d) new firms that sell italian ice will enter the market and tony's demand curve will become more inelastic
c) new firms that sell italian ice will enter the market and tony's demand curve will shift to the left
someone who is available for work but has not actively looked for work in the previous four weeks would be classified as a) employed b) not in the working-age population c) not in the labor force d) unemployed
c) not in the labor force
the highest-valued alternative that must be given up to engage in an activity is the definition of a) economic equity b) marginal cost c) opportunity cost d) marginal benefit
c) opportunity cost
suppose that when the price of oranges decreases, sarita decreases her purchases of peaches. to sarita a) oranges and peaches are normal goods b) oranges and peaches are inferior goods c) oranges and peaches are substitutes d) oranges and peaches are complements
c) oranges and peaches are substitutes
which of the following describes a situation in which a good or service is produced at the lowest possible cost? a) marginal efficiency b) profit maximization c) productive efficiency d) allocative efficiency
c) productive efficiency
to maximize profit, a perfectly competitive firm a) should produce the quantity of output that results in the greatest difference between marginal revenue and marginal cost b) should sell the quantity of output that results in a value for total revenue that is equal to total cost c) should produce the quantity of output that results in the greatest difference between total revenue and total cost d) should sell the quantity of output determined by the interaction between industry demand and supply
c) should produce the quantity of output that results in the greatest difference between total revenue and total cost
the difference between technology and technological change is that a) technology is product-centered, that is, developing new products with our limited resources while technological change is process-centered in that it focuses on developing new production techniques b) technology is carried out by firms producing physical goods but technological change is an intellectual exercise into seeking ways to improve production c) technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs d) technology involves the use of capital equipment while technological change requires the use of brain power
c) technology refers to the processes used by a firm to transform inputs into output while technological change is a change in a firm's ability to produce a given level of output with a given quantity of inputs
what is the profit-maximizing rule for a monopolistically competitive firm? a) to produce a quantity that maximizes total revenue b) to produce a quantity such that price equals marginal cost c) to produce a quantity such that marginal revenue equals marginal cost d) to produce a quantity that maximizes market share
c) to produce a quantity such that marginal revenue equals marginal cost
if the demand curve for a firm is downward-sloping, the marginal revenue curve a) is horizontal b) is the same as the demand curve c) will lie below (to the left of) the demand curve d) will lie above (and to the right of) the demand curve
c) will lie below (to the left of) the demand curve
which of the following is the best example of a short-run adjustment? a) milwaukee brewing company, a local microbrewery, purchases another commercial brew kettle as part of its capacity expansion b) tesla builds a new assembly plant in texas c) your local brew bayou coffee shop hires two more associates for the busy morning shift d) marquette university completed negotiations to acquire a large piece of land to build its new business college
c) your local brew bayou coffee shop hires two more associates for the busy morning shift
vipsana's gyros house sells gyros. the cost of ingredients (pita, meat, spices, etc.) to make a gyro is $2.00. vipsana pays her employees $80 per day. she also incurs a fixed cost of $120 per day. calculate vipsana's total cost per day when she produces 60 gyros using three workers? a) $120 b) $240 c) $360 d) $480
d) $480
paul goes to dick's sporting goods to buy a new tennis racquet. he is willing to pay $200 for a new racquet, but buys one on sale for $125. paul's consumer surplus from the purchase is a) $325 b) $200 c) $125 d) $75
d) $75
if the number of unemployed workers is 200 million, the number of employed workers is 300 million, and the working-age population is 800 million, what is the labor force participation rate? a) 12.5% b) 37.5% c) 40% d) 62.5%
d) 62.5%
which of the following equations is correct? a) ATC + AVC = AFC b) AVC + ATC + AFC c) AVC - ATC = AFC d) AFC + AVC = ATC
d) AFC + AVC = ATC
holding everything else constant, a increase in the price of bicycles will result in a) an increase in the demand for bicycles b) a decrease in the supply of bicycles c) an increase in the quantity demanded of bicycles d) a decrease in the quantity demanded of bicycles
d) a decrease in the quantity demanded of bicycles
if, for the last bushel of apples produced and sold by an apple farm, marginal revenue exceeds marginal cost, then in producing that bushel the farm a) maximized its profits or minimized its losses b) added an equal amount to both total revenue and total cost c) added more to total cost than it added to total revenue d) added more to total revenue than it added to total cost
d) added more to total revenue than it added to total cost
a firm's technology may depend on which of the following factors? a) the training of its workers b) the speed and efficiency of its equipment c) the skill of its managers d) all of the above
d) all of the above
in a small economy, consumption spending is $6,000, government purchases are $1,200, investment is $1,500, exports are $2,000, and imports are $1,000. what is the GDP? a) $9,700 b) $9,800 c) $10,800 d) $11,700
a) $9,700
if four workers can produce 22 chairs a day and five can produce 25 chairs a day, the marginal product of the fifth worker is a) 3 chairs b) 5 chairs c) 25 chairs d) 47 chairs
a) 3 chairs
if a U.S. firm produces cars in Mexico, that production should count towards a) US GNP and Mexico's GDP b) US GDP and Mexico's GNP c) US GDP and will not affect Mexico's GDP d) Mexico's GNP and will not affect US GDP or GNP
a) US GNP and Mexico's GDP
which of the following is the correct way to describe equilibrium in a market? a) at equilibrium, quantity demanded equals quantity supplied b) at equilibrium, scarcity is eliminated c) at equilibrium, market forces no longer apply d) at equilibrium, demand equals supply
a) at equilibrium, quantity demanded equals quantity supplied
in recent years, the cost of producing organic produce in the US has decreased largely due to technological advancement. at the same time more and more Americans prefer organic produce over conventional produce. which of the following best explains the effect of these events in the organic produce market? a) both the supply and demand curves have shifted to the right. as a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price b) the supply curve has shifted to the left and the demand curve has shifted to the right. as a result there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price c) the supply curve has shifted to the left and the demand curve has shifted to the right. as a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity d) both the supply and demand curves have shifted to the right. as a result, there has been an increase in both the equilibrium and the equilibrium quantity
a) both the supply and demand curves have shifted to the right. as a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price
dina faces ________ opportunity costs in the production of sliders and hot wings a) constant b) decreasing c) increasing d) negative
a) constant
the table above shows the demand schedules for kona coffee of two individuals (luke and ravi) and the rest of the market. if the price of kona coffee rises from $4 to $5, the market quantity demanded would a) decrease by 35 lbs b) decrease by 115 lbs c) increase by 35 lbs d) increase by 115 lbs
a) decrease by 35 lbs
the change in a firm's total cost from producing one more unit of a good or service is the firm's a) marginal cost of production b) explicit cost of production c) implicit cost of production d) average cost of production
a) marginal cost of production
to affect the market outcome, a price floor a) must be set above the equilibrium price b) must be set above the price ceiling c) must be set above the black market price d) must be set above the legal price
a) must be set above the equilibrium price
what happens in the market for walnuts if the centers for disease control and prevention announces that consuming a half cup of walnuts each week helps to lower levels of bad cholesterol? a) panel (c) where D increases, S no change, P increases, and Q increases b) panel (a) where S increases, D no change, P increases, and Q decreases c) panel (a) where S increases, D no change, P decreases, and Q increases d) panel (c) where D increases, S no change, P decreases, and Q decreases
a) panel (c) where D increases, S no change, P increases, and Q increases
a perfectly competitive apple farm produces 1,000 bushels of apples at a total cost of $36,000. the price of each bushel is $50. calculate the firm's short-run profit or loss a) profit of $14,000 b) profit of $50,000 c) loss of $14,000 d) the is insufficient information to answer the question
a) profit of $14,000
which of the following is NOT an option for a perfectly competitive firm that suffers short-run losses? a) raising the price b) reducing the use of variable factors c) reducing production d) shutting down
a) raising the price
the key characteristic of a monopolistically competitive market structure include a) sellers selling similar but differentiated products b) higher barriers to entry c) sellers acting to maximize revenue d) few sellers
a) sellers selling similar but differentiated products
which of the following is the best example of a perfectly competitive industry? a) the corn market b) the automobile market c) the electricity market d) the tennis shoe market
a) the corn market
the federal budget deficit when a) the government spends more that it collects in taxes b) taxes are too high c) the government spends less than it collects in taxes d) the government spends the same amount it collects in taxes
a) the government spends more that it collects in taxes
if prices in the economy rise, then a) the purchasing power of a dollar declines b) the purchasing power of a dollar stays constant c) the purchasing power of a dollar rises d) the purchasing power of a dollar cannot be determined
a) the purchasing power of a dollar declines
if the market for peaches the supply curve has shifted to the left a) the supply of peaches has decreased b) the quantity of peaches supplied has increased c) the quantity of peaches supplied has decreased d) the supply of peaches has increased
a) the supply of peaches has decreased
gross-domestic product is calculated by summing up a) the total market value of final goods and services produced in the economy during a period of time b) the total quantity of goods and services in the economy c) the total quantity of goods and services produced in the economy during a period of time d) the total market value of goods and services in the economy
a) the total market value of final goods and services produced in the economy during a period of time
during the month of may, 10 million workers moved from being classified as "unemployed" to being classified as "employed." as a result a) the unemployment rate fell b) the labor force participation rate fell c) the labor force participation rate rose d) the unemployment rate rose
a) the unemployment rate fell
if hashim obtains 16 units of utility per dollar spent on candy bars and 12 units of utility per dollar spent on hot chocolate drink, then hashim a) should buy more hot chocolate drinks and fewer candy bars b) should buy more candy bars and fewer hot chocolate drinks c) should buy fewer hot chocolate drinks and fewer candy bars d) is maximizing total utility
b) should buy more candy bars and fewer hot chocolate drinks
what are the three main types of unemployment? a) cyclical, structural, and temporary b) structural, frictional, and cyclical c) frictional, seasonal, and cyclical d) seasonally unemployed
b) structural, frictional, and cyclical
if advances in robotics, automation, and artificial intelligence lead to the elimination of jobs, and the people who held those jobs need to learn new skills to find new jobs, those people would be considered a) cyclically unemployed b) structurally unemployed c) seasonally unemployed d) frictionally unemployed
b) structurally unemployed
when the price of hoagies increases from $5.00 to $5.75, quantity demanded decreases from Q1 to Q0. this change in quantity demanded is due to a) the fact that marginal willingness to pay falls b) the income and substitution effects c) the law of diminishing marginal utility d) the price and output effects
b) the income and substitution effects
which of the following describes the difference between the market demand curve for a perfectly competitive industry and the demand curve for a firm (farm) in this industry? a) the market demand curve is downward sloping; the firm's demand curve is a vertical line b) the market demand curve is downward sloping; the firm's demand curve is a horizontal line c) the market demand curve can not have a constant slope; the firm's demand curve has a slope equal to zero d) the market demand curve is a horizontal line; the firm's demand curve is downward sloping
b) the market demand curve is downward sloping; the firm's demand curve is a horizontal line
which of the following is a result of imposing a rent ceiling? a) some consumer surplus is converted to producer surplus b) there is an increase in the quantity of apartments demanded c) the marginal benefit of the last apartment rented is less than the marginal cost of supplying it d) there is an increase in the quantity of apartments supplied
b) there is an increase in the quantity of apartments demanded
discouraged workers are a) workers who have consistently been looking for work for more than 4 weeks b) workers who have stopped looking for work because they believe there are no jobs for them c) workers who have a part time job but want a full time job d) workers who find their current jobs unfulfilling and are considering a job change
b) workers who have stopped looking for work because they believe there are no jobs for them
if the market price is $25 in a perfectly competitive market, the marginal revenue from selling the fifth unit is a) $5 b) $12.50 c) $25 d) $125
c) $25
if nominal GDP is $5 trillion and real GDP is $4 trillion, the GDP deflator is a) 12.5 b) 80 c) 125 d) 800
c) 125
according to the "rule of 70," how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%? a) less than 1 year b) 5 years c) 14 years d) 35 years
c) 14 years
a car that is produced in 2020 is not sold until 2021. according to the definition of GDP, in which year's GDP should it be counted? a) 2021 b) the production cost will count as part of 2020 GDP while the sales price will count as part of 2021 GDP c) 2020 d) half of the sales price will count as part of 2020 GDP and half will count as part of 2021 GDP
c) 2020
if a consumer receives 20 units of total utility from consuming two candy bars, and 25 units of total utility from consuming three candy bars, the marginal utility of the third candy bar is a) 25 utils b) 20 utils c) 5 utils d) unknown as more information is needed to determine the answer
c) 5 utils
Refer to Figure 4-6. what area represents consumer surplus at P2? a) B + D b) A + B + C c) A d) A + B
c) A
Refer to Figure 4-2. what area represents producer surplus at a price of P2? a) B + D b) A + B c) A + B + C d) A + B + C + D + E
c) A + B + C
for the monopolistically competitive firm a) price (P) = MR = AR b) P = MR and MR > AR c) P = AR and AR > MR d) P > MR and MR = AR
c) P = AR and AR > MR
in a closed economy, private savings is equal to which of the following? a) Y - C - T b) Y - G - T c) Y + TR - C - T d) Y - G - T + TR
c) Y + TR - C - T
government spending _______ is included in gross domestic product a) at state and local levels of government only b) on defense goods only c) at federal, state, and local levels of government d) at the federal level of government only
c) at federal, state, and local levels of government
investment, as defined by economists, would NOT include which of the following? Ford a) buys a new robotic machine (from a plant in Ohio) to assemble cars b) builds another assembly plant in the US c) buys US government bonds d) adds 1,000 new cars to inventories
c) buys US government bonds
in a competitive market when there is no deadweight loss a) producer surplus is minimized b) consumer surplus is minimized c) consumer surplus plus producer surplus is maximized d) consumer surplus plus producer surplus is minimized
c) consumer surplus plus producer surplus is maximized
which of the following can a firm do in the long run but NOT in the short run? a) reduce its rate of output by laying off workers b) increase its variable costs c) decrease the size of its physical plant d) increase its use of raw materials
c) decrease the size of its physical plant
What is the difference between an "increase in demand" and an "increase in quantity demanded" a) there is not difference between the two terms; they both refer to a movement downward along a given demand curve b) an "increase in demand" is represented by a movement along a given demand curve, while an "increase in quantity demanded" is represented by a rightward shift of the demand curve c) there is no difference between the two terms; they both refer to a shift of the demand curve d) an "increase in demand" is represented by a rightward shift of the demand curve while an "increase in quantity demanded" is represented by a movement along a given demand curve
d) an "increase in demand" is represented by a rightward shift of the demand curve while an "increase in quantity demanded" is represented by a movement along a given demand curve
economic models a) cannot be used to analyze real-world issues b) magnify the complexity of economic issues in order to provide useful data c) make no assumptions in order to remain as accurate as possible d) are simplified versions of reality
d) are simplified versions of reality
a black market is a market where buying and selling take place a) after regular office hours b) in non-licensed shops and warehouses c) on foreign soil d) at prices that violate government price regulations
d) at prices that violate government price regulations
which of the following statements is true? a) barney has an absolute advantage in making pogo sticks and fred in making unicycles b) fred has an absolute advantage in making both products c) barney has an absolute advantage in making unicycles and fred in making pogo sticks d) barney has an absolute advantage in making both products
d) barney has an absolute advantage in making both products
the period between a business cycle trough and a business cycle peak is called a) contraction b) progression c) recession d) expansion
d) expansion
after canceling the annual rental contract fo her yoga studio, varsha moved her yoga classes to an outdoor neighborhood park. holding everything else constant, as a result of this move a) her rent doubles b) her implicit cost falls and her explicit cost rises c) her implicit cost rise and her explicit cost rises also d) her explicit cost falls and her implicit cost rises
d) her explicit cost falls and her implicit cost rises
the table above lists the highest prices five consumers are willing to pay for a theater ticket. if the price of one of the tickets is $18 a) simran, dominic, and neethara will receive a total of $34 of consumer surplus since they will buy no tickets b) alberto and jianfei will each buy two tickets c) alberto and jainfei receive a total of $26 of consumer surplus from buying one ticket each. no one else will buy a ticket d) jainfei will receive $2 of consumer surplus from buying one ticket
d) jainfei will receive $2 of consumer surplus from buying one ticket
firms that automatically enroll their employees in retirement plans, giving them the option to opt-out instead of opt-in, is an example which Dr. Thaler calles a form of behavioral economics a) anchoring b) the endowment effect c) network externality d) nudges
d) nudges
assume that the graphs in this figure represent the demand and supply curves for bicycle helmets. which panel best describes what happens in this market if there is a substantial increase in the price of bicycles a) panel (a) b) panel (b) c) panel (c) d) panel (d)
d) panel (d)
if your total satisfaction increases when you consume another unit, your marginal utility must be a) decreasing b) negative c) increasing d) positive
d) positive
marginal utility can be a) zero b) positive c) negative d) positive, negative, or zero
d) positive, negative, or zero
the law of diminishing marginal returns states a) average total costs of production initially fall and after some point starts to rise at a decreasing rate as output increases b) that in the presence of a fixed factor, at some point average product of labor starts to fall as more and more variable inputs are added c) that at some point, adding more of a fixed input to a given amount of variable inputs will cause the marginal product of the variable input to decline d) that at some point, adding more of a variable input to a given amount of fixed input will cause the marginal product of the variable input to decline
d) that at some point, adding more of a variable input to a given amount of fixed input will cause the marginal product of the variable input to decline
refer to figure 3-5. at price of $5 a) there is a surplus of 2 units b) there is a shortage of 6 units c) there is a surplus of 4 units d) there is a surplus of 4 units
d) there is a surplus of 4 units
in the short-run, a firm that is operating at a loss has two options. these options are a) to go out of business or declare bankruptcy b) to adopt new technology or change the size of its physical plant c) to reduce output or reduce its variable costs d) to shut down temporarily or continue to produce
d) to shut down temporarily or continue to produce
