The net asset value of an open-end mutual fund is equal to the
A) profits of the fund.
B) dividends paid out by the fund.
C) market value of the securities held by the fund.
D) price-earnings ratio of the fund.
C
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Refer to Figure 13-11. The diagram depicts a firm
A) in an increasing-cost industry. B) in long-run equilibrium. C) that is making short-run losses. D) in a constant-cost industry.
If the MPC is 0.9, then an increase in taxes of $100 can be expected to __________ consumption by the amount of __________
A) increase; $90 B) decrease; $90 C) increase; $100 D) decrease; $100
A model of choice in economics starts by assuming that:
a. people try to minimize their losses. b. people try to maximize their consumption. c. people try to minimize their costs. d. people try to maximize their utility.
Efficient production means producing
a. less output when costs are high and more output when costs are low b. at the lowest possible cost regardless of the quantity of output c. at any point on the production possibilities curve d. no more than what society needs e. in excess of what society needs