?
In Figure 5-13, the consumer can afford any combination of X and Y represented by a point
A. on line AB only.
B. on or below line AB.
C. on or above line AB.
D. anywhere on the graph.
Answer: B
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Refer to Figure 4.7. You should definitely ask for points if you believe that ________ of your classmates have asked for points
A) five or fewer B) less than five C) six or more D) more than six
A firm is making zero economic profits. From this, we know that
A) the firm is going to go out of business. B) implicit costs are zero. C) the firm is going to stay in business, but will not be able to attract new financial capital. D) the firm will stay in business since it is covering all relevant opportunity costs.
If a bank receives a new deposit of $10,000 . and the required reserve ratio is 25 percent, then the new money that can be created by the banking system, including the initial deposit, is:
a. $25,000. b. $2,500. c. $4,000. d. $40,000. e. $10,000.
The two main characteristics of a public good are:
A. production at constant marginal cost and rising demand. B. nonexcludability and production at rising marginal cost. C. nonrivalry and nonexcludability. D. nonrivalry and large negative externalities.