Serious concern for deregulation began to appear in Congress in the 1970s.
Answer the following statement true (T) or false (F)
True
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All inferior goods have upward-sloping demand curves.
Answer the following statement true (T) or false (F)
If the price exceeds the average variable cost, by producing the level of output such that marginal revenue equals marginal cost, the firm ensures that it will
A) earn an economic profit. B) not suffer any losses. C) earn the largest profit possible. D) survive in the long run.
The average tax rate can be calculated by which of the following formulas?
A) the change in taxes due divided by the change in taxable income B) the change in taxable income divided by the change in taxes due C) total taxes due divided by total taxable income D) total taxable income divided by total taxes due
When the Fed sells a government security to the public, how does it usually receive payment for the security?
a. by accepting checks on bank accounts b. by drawing money out of circulation c. by decreasing member bank profits not distributed by the Fed d. by decreasing reserves in bank accounts at the Fed