An Iowa corn producer who has studied economics will desire to ____________________
Fill in the blank(s) with the appropriate word(s)
Answer: Use the profit-maximizing level of all inputs, including fertilizer
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The Board of Governors of the Federal Reserve consists of seven members, each of which are
A) appointed by the president of the United States. B) elected by the public every two years. C) presidents of one of the 12 regional Federal Reserve Banks. D) CEOs of commercial banks within each Federal Reserve district.
Which of the following modern methods of financing a corporation was not available to corporations four hundred years ago?
A) selling stock B) selling bonds C) reinvestment. D) All of these methods were used then as well as now.
The area above the supply curve and below the market price represents:
a. the consumer surplus b. the producer surplus. c. the deadweight loss of the producer. d. the deadweight loss of the consumer.
Which of the following is NOT a capital good?
A. A new apartment building purchased by a corporation B. Batteries purchased by a car manufacturer to install in new cars C. A new house purchased by a family D. Machines purchased by a car manufacturer to measure metal thicknesses