The monopolistically competitive firm in short-run equilibrium
A. faces a downward-sloping demand curve.
B. has a marginal revenue curve which lies below its demand curve.
C. maximizes profit where MR = MC.
D. All of the responses are correct.
Answer: D
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Refer to the table above. Net exports equal
A) -$2,800 billion. B) $2,800 billion. C) $200 billion. D) -$200 billion. E) $400 billion.
Ellen deposited $500 into an account and two years later she had $561.80 in the account. What interest rate was paid on Ellen's deposit?
a. 4.88 percent b. 6.00 percent c. 12.36 percent d. None of the above is correct.
Which scenario best demonstrates how money acts as a store of value?
a. Tran knows a bottle of water is $1 and a birthday card is $2, so a birthday card has the same value as two bottles of water. b. Natalie buys a new leather purse and a button-down blouse from her favorite boutique for $150. c. Gabe borrows money from his mother to fix his car and gives her money every month until he has repaid her. d. Anya buys a certificate of deposit, which she plans to cash in several years after she retires.
A commercial bank is a financial institution that:
A. determines the value of currency. B. prints and distributes currency. C. holds the savings of individuals for a fee until they need them. D. borrows from and lends to individuals and businesses.