One of the duties of the Fed is to:
A. offer financial advising to the public.
B. change the demand for money.
C. set the market interest rate.
D. offer financial advising to the government.
Answer: D
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Assuming a market price of $4, fill in the columns in the following table. What is the profit-maximizing level of production? What are the two ways to determine the profit-maximizing level of production?
Quantity Total Revenue (TR) Total Cost (TC) Profit Marginal Revenue (MR) Marginal Cost (MC) 0 3 1 5 2 6 3 9 4 14 5 20 6 28 7 40
The labor force minus the number of employed equals the number of unemployed
a. True b. False Indicate whether the statement is true or false
In the United States, currency holdings per person average about
a. $110; one explanation for this relatively small average is that many people use credit and debit cards to make transactions. b. $110; one explanation for this relatively small average is that U.S. citizens hold a lot of foreign currency. c. $4,490; one explanation for this relatively large amount is that criminals probably prefer currency as a medium of exchange. d. $4,490; one explanation for this relatively large average is that U.S. citizens hold a lot of foreign currency.
Dana spends $10,000 on remodeling a storefront that she then opens as a shoe store. The business has not been very successful, and she needs an additional $3,000 to keep the shoe store open. Which of the following is true?
A. The $10,000 Dana spent on remodeling is a fixed cost of her business. B. The $10,000 Dana spent on remodeling represents a part of the total variable cost of her business. C. The $3,000 Dana needs to keep the deli open represents her total fixed costs. D. The $3,000 represents her marginal costs of production.