Equilibrium price is _____.
$11.00
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A proposed project should be accepted if the net present value is
A) positive. B) negative. C) larger than the internal rate of return. D) smaller than the internal rate of return.
To attract more bidders, and more aggressive bidders, to your auction
a. withhold relevant information about the value of the object b. don't allow bidders to know how others are bidding c. allow potential bidders ample time to examine the object being sold d. do not hold oral auctions
Marginal resource cost is defined as the
a. additional cost of producing an additional unit of output b. change in resource employment required to increase the units of output produced c. ratio of marginal revenue product to the market price of the output sold d. additional cost of employing one additional unit of a resource e. ratio of the change in total resource usage to the change in total resource cost
Identify the correct statement regarding a fractional reserve banking system.
a. Only a fraction of the banks in the system are allowed to create money b. Only a fraction of the banks in the system have reserves. c. The claims outstanding against the bank are only a fraction of the bank's total reserves. d. Each bank must deposit a fraction of its reserves with the Federal Reserve Bank. e. Bank reserves represent only a fraction of bank deposits.