Average per capita water consumption in the United States was approximately how many gallons per day in 2005?
A. 440.
B. 764.
C. 1,941.
D. 1,363.
Answer: D
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Suppose that a bank has $250 in vault cash, $750 in deposits at the Federal Reserve, $9,000 of loans, and deposits of $10,000. What is the bank's reserve ratio?
a) 2.5% b) 10% c) 33% d) 90%
You are hired as an economic consultant to The Pampered Pet Shop. The Pampered Pet Shop operates in a perfectly competitive industry. This firm is currently producing at a point where market price equals its marginal cost. The market price is less than its average variable cost. You should advise the firm to
A. produce in the short run to minimize its loss, but exit the industry in the long run. B. raise its price until it breaks even. C. lower its price so that it can sell more units of output. D. cease production immediately because it is not covering its variable costs of production.
________ occurs when the economy is producing what people want at least possible cost.
A. Maximum profit B. Equity C. Efficiency D. Stability
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080If they are given 3 days to work how many sweaters could Natalia make if she spent the whole time knitting scarves?
A. 4 B. 16 C. 12 D. 24