Which of the following holds true in a circular flow diagram?
A) Income flow are represented by drawing an arrow from the household sector to firms.
B) Factor flows are represented by drawing an arrow from the firm sector to the household sector.
C) Production flows are represented by drawing an arrow from the firm sector to the household sector.
D) Expenditure flows are represented by drawing an arrow from the firm sector to the household sector.
C
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The desired reserve ratio is 3 percent. Robert deposits $3,000 in Bank America. Bank America keeps its minimum desired reserves and lends the excess to Fredrica. How much does Bank America lend to Fredrica?
A) $3,000 B) $2,910 C) $300 D) $2,700 E) $900
Discuss the role of product differentiation and advertising in monopolistic competition
What will be an ideal response?
For a restaurant, all the following are examples of variable costs, except
a. Labor costs b. Cost of raw materials c. Rents on dining space d. None- all of them are variable costs
If the first copy cost of a music video is $223,000 and the marginal cost is $0, how much total cost would the firm incur if it produces 1 million copies?
A. zero B. $223,000 C. $1 million D. $1 million + $223,000