Refer to the diagram, representing Slippery Slope Oil Company. How many million barrels should Slippery Slope extract and sell this year?
A. 5.
B. 10.
C. 15.
D. It cannot be determined with the information given.
A. 5.
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When the Fed purchases government securities, it
A. increases banks' reserves and makes possible an increase in the money supply.
B. decreases banks' reserves and makes possible a decrease in the money supply.
C. automatically raises the discount rate.
D. uses discounting operations to influence margin requirements.
e. has no effect on either the money supply or the discount rate.
Explain the effect on the demand for dollars in the foreign exchange market of an increase in the U.S. interest rate differential
What will be an ideal response?
If the area between the line of equality and the Lorenz curve is 1,000, the Gini ratio is
A) 0.8. B) 0.2. C) 0.1. D) 0.5.
Refer to Figure 13-17. In the long run, why will the firm produce Qf units and not Qg units, which has a lower its average cost of production?
A) At Qg, marginal revenue is less than average revenue which will result in a loss for the firm. B) Although its average cost of production is lower when the firm produces Qg units, to be able to sell its output the firm will have to charge a price below average cost, resulting in a loss. C) At Qg, average cost exceeds marginal cost so the firm will actually make a loss. D) The firm's goal is to charge a high price and make a small profit rather than a low price and no profit.