A checkable deposit at a commercial bank is a(n):
A. Liability to the depositor and an asset to the bank
B. Liability to both the depositor and the bank
C. Asset to the depositor and a liability to the bank
D. Asset to both the depositor and the bank
C. Asset to the depositor and a liability to the bank
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If a consumer receives 20 units of utility from consuming two candy bars, and 25 units of utility from consuming three candy bars, the marginal utility of the third candy bar is
A) 25 utility units. B) 20 utility units. C) 5 utility units. D) unknown as more information is needed to determine the answer.
In a competitive market, when price is below the equilibrium level, the price will be driven upward due to
a. excess supply b. government intervention c. competition among suppliers d. excess demand e. technical inefficiency
If the wage is kept above the equilibrium wage for any reason, the result is structural unemployment
a. True b. False Indicate whether the statement is true or false
For a firm, marginal revenue minus marginal cost is equal to
a. profit. b. average total cost. c. change in profit. d. change in average revenue.