The interest rate you typically earn on a deposit at a bank:
A. represents the price of your loan.
B. represents the risk of investing.
C. is the opportunity cost to you of lending money.
D. is the opportunity cost to a bank of lending money.
C. is the opportunity cost to you of lending money.
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The marginal cost curve
A) shows the maximum price that a producer must receive to induce it to produce a unit of a good or service. B) shows the minimum price sellers must receive to produce a unit of a good or service. C) is the same as the demand curve. D) shows what buyers are willing to give up to get one more unit of a good or service.
Normative economics deals with
a. social norms and customs that influence economic behavior b. norms of behavior that can be taken as facts c. statements of fact d. statements about the value of a proposed policy e. government rules and regulations that drag down the economy
The concept of surplus can:
A. show who loses from minimum wage. B. show the benefits of introducing new markets. C. show who benefits from a tax. D. show any of these.
The vertical distance between the average total cost curve and the average variable cost curve is:
A. marginal cost. B. total cost. C. total fixed cost. D. average fixed cost.