An institution that functions like a business but does not operate to generate profits:
a. nonprofit organization
b. Stockholm Club
c. stockholder enterprise
d. cooperative franchise
e. Pineapple Ring
Answer: a. nonprofit organization
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Transfer payments include
A) open market sales. B) Social Security. C) consumption taxes. D) dividends.
Which interest rate is typically the lowest?
A) 3-month Treasury bills B) 2-year Treasury notes C) 10-year Treasury bonds D) 30-year Treasury bonds
Which of the following types of financial institutions is required to belong to the Federal Reserve System?
A. national banks B. state-chartered banks C. savings and loan institutions D. credit unions
Figure 5.4 shows a firm's marginal cost, average total cost, and average variable cost curves. At Q = 50, the total variable cost is:
A. $1,200. B. $1,500. C. $2,100. D. $2,800.