Which of the following is an operating target?
A) M1
B) M2
C) nonborrowed reserves
D) the inflation rate
C
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Refer to Figure 5-9. The efficient output is
A) Q1. B) Q2. C) Q3. D) Q4.
The various antitrust laws are written in very specific terms. Thus, there is little or no question as to when a firm has run afoul of one or more of these laws
Indicate whether the statement is true or false
Normal profit implies that
A. Economic profit must be negative. B. Firms will expand their scale of production. C. The factors employed are earning as much as they could in the best alternative employment. D. Economic profit must be positive.
The sale of a used automobile would not be included in GDP of the current year because it is
A. Nonmarket transaction B. Nonproduction transaction C. Purely financial transaction D. Private transfer payment