Economic theory defines capital as
A) anything that is scarce.
B) non-human resources.
C) produced resources used to produce future goods.
D) resources containing a positive opportunity cost.
E) stocks and bonds.
C
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Use the figure below to answer the following question.
If actual production and consumption occur at Q2
A. there is deadweight loss of d. B. there is deadweight loss of f. C. consumer surplus and producer surplus is maximized. D. economic surplus is below the maximum.
If the Fed sells U.S. government securities to banks, the federal funds rate ________ and banks' reserves ________
A) falls; increase B) rises; increase C) falls; decrease D) rises; do not change E) rises; decrease
Compare and contrast the marginal cost and average cost pricing rules for regulating natural monopolies
What will be an ideal response?
The Consumer Price Index (CPI) is a measure of the:
a. cost of a market basket of consumer goods and services relative to its cost in a base year. b. change in the average price of a market basket of necessary goods and services c. cost of a market basket of consumer goods relative to the previous year. d. change in the average price of all intermediate goods and services. e. average price of all final goods and services relative to the average price in the previous year.