If fixed cost at quantity (Q) = 100 is $130, then
a. fixed cost at Q = 0 is $0.
b. fixed cost at Q = 0 is less than $130.
c. fixed cost at Q = 200 is $260.
d. fixed cost at Q = 200 is $130.
e. it is impossible to calculate fixed costs at any other quantity.
D
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The self-correcting mechanism is the reason that the economy will behave as the classical model predicts in the long run
a. True b. False
The three components of personal consumption expenditures are
a. durable goods, nondurable goods, and services b. durable goods, food, and housing c. durable goods, nondurable goods, and housing d. durable goods, services, and food e. durable goods, services, and transportation
The U.S. central bank is a financial institution that:
A. has the sole right to accept deposits and make loans. B. sets borrowing and lending in a country. C. has the sole right to issue currency. D. determines what assets will back a currency.
About 42 percent of M1 is composed of:
A. demand deposits. B. savings deposits. C. money market mutual funds. D. currency held by the public.