Which of the following is not included in M1?
a. a $5 bill in your wallet
b. $100 in your checking account
c. $500 in your savings account
d. All of the above are included in M1.
c
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Refer to Figure 14-5. If Netflix lowers its price, will this deter Spotify from setting up a streaming video service?
A) no, because Spotify will make a larger profit than Netflix if it chooses to compete B) yes, because Spotify stands to lose $1 million if it competes with Netflix C) no, because Spotify will make a profit if it competes with Netflix D) yes, because Spotify will make a smaller profit than Netflix if it chooses to compete
What caused the major economic conflict between the North and the South immediately before the outbreak of the Civil War?
A. Agricultural development. B. Industrialization in the North. C. Trade barriers with England. D. All of the choices are true.
During times of inflation conservative economists would be most in favor of
A. spending cuts. B. spending increases. C. tax cuts. D. tax increases.
A firm scaled down its operation by reducing all inputs by 50% and experienced a more-than-50% decrease in output. If all input prices remain unchanged, the firm's long-run average cost exhibits:
A. economies of scale at the current output level. B. diseconomies of scale at the current output level. C. a constant long-run average cost at the current output level. D. diminishing marginal returns at the current output level.