_____ is a contract that specifies actions to be taken if various situations come to prevail
a. An insurance policy
b. Contingency
c. Unitization
d. An escalator
A
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The more top-heavy income distribution is, the closer the Lorenz curve will be to the line of perfect equality
Indicate whether the statement is true or false
When the federal funds rate equals the discount rate
A) the supply curve of reserves is vertical. B) the supply curve of reserves is horizontal. C) the demand curve for reserves is vertical. D) the demand curve for reserves is horizontal.
Exhibit 6A-3 Consumer equilibrium
?
Given the budget line and indifference curves shown in Exhibit 6A-3, point V is:
A. inferior to point X. B. lowest attainable level of total utility. C. unobtainable. D. consumer equilibrium.
The perfectly competitive, profit-maximizing rate of production
A. occurs at the point at which the difference between marginal revenue and marginal cost is maximized. B. is not measurable for a perfectly competitive firm. C. occurs at the point at which marginal revenue is equal to marginal cost. D. ignores the relation of total revenues and total costs.