Workers earn less than half of the income generated by the production process.
Answer the following statement true (T) or false (F)
False
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Which of the following is not a flow variable?
A) investment B) saving C) the money supply D) output E) all of the above
If a person does NOT pay all costs associated with a particular resource-using activity, then
A) the external costs of the activity are greater than the private costs of the activity. B) the social costs of the activity are greater than the private costs of the activity. C) the external costs of the activity are greater than the internal costs of the activity. D) the full costs of the activity are the sum of private costs plus internal costs.
If actual reserves in the banking system are $40,000, excess reserves are $10,000, and checkable deposits are $240,000, then the legal reserve requirement is:
A. 10 percent. B. 12.5 percent. C. 20 percent. D. 5 percent.
Which of the following is true about this firm?
A. Society can benefit from government regulation using marginal cost pricing without a subsidy. B. It is a natural monopoly. C. Marginal cost pricing will assure technical efficiency. D. Profit regulation will assure allocative efficiency.