In answering the question, assume a graph in which dollars are measured on the vertical axis and output on the horizontal axis. Refer to the information. For a purely competitive firm, total revenue graphs as a:
A. straight, upsloping line.
B. straight line, parallel to the vertical axis.
C. straight line, parallel to the horizontal axis.
D. straight, downsloping line.
Answer: A
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Federal government expenditures, as a percentage of GDP
A) rose from 1950 to 1991, fell from 1992 to 2001, and have risen from 2001 to the present. B) rose from 1950 to 1980, fell from 1981 to 2001, and have risen from 2001 to the present. C) have fallen since the early 1950s to the present. D) have risen since the early 1950s to the present. E) rose from 1950 to 2001 and then fell from 2001 to the present.
Another term for "don't put all your eggs in one basket" is
A) moral hazard. B) indirect finance. C) asymmetric information. D) portfolio diversification.
If the Fed ______________________, the money supply will ultimately __________
A) raises the required reserve ratio from 8 percent to 10 percent; decrease B) lowers the required reserve ratio from 10 percent to 8 percent; increase C) lowers the required reserve ratio from 10 percent to 8 percent; decrease D) raises the required reserve ratio from 8 percent to 10 percent; increase E) a and b
Predatory dumping is a common problem in the United States
Indicate whether the statement is true or false