Which of the following is the most liquid asset?
A) season tickets to the Yankees' games
B) the cash that your Aunt Ursula stuffs in her mattress
C) a $5,000 6-month certificate of deposit (time deposit)
D) one hundred shares of IBM stock
Ans: B) the cash that your Aunt Ursula stuffs in her mattress
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Under perfect competition, the per unit revenue of a firm is equal to its marginal revenue
a. True b. False Indicate whether the statement is true or false
One of the potential economic problems associated with the extensive use of macropolicy to recover from the Great Recession is
A. the huge government deficits and the flood of money into the banks could set off an inflationary spiral. B. the large amount of government spending for job creation could result in rapid and uncontrollable increases in wages. C. the flood of money into the banks could cause excessive investment expenditures in the economy. D. the tax rebates made available to consumers could cause uncontrollable increases in the price of housing.
Average total cost equals:
A. total fixed cost plus total variable cost. B. average fixed cost minus average variable cost. C. average fixed cost plus average variable cost. D. total cost minus average cost.
Refer to the information provided in Table 22.3 below to answer the question(s) that follow. Table 22.3 PointAggregate Income (Y)Aggregate Consumption (C) A 15 19 B 30 23 C 45 27 D 60 31 E 75 35 F 90 39The data in the table was used to estimate the following consumption function: C = 20 + 0.2YRefer to Table 22.3. The error for point F is equal to
A. -3. B. -1. C. +1. D. +2.