Firms should use a resource up to a point where MRP = P.
Answer the following statement true (T) or false (F)
True
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A decrease in supply is graphically represented as a
A) rightward shift of the supply curve. B) leftward shift of the supply curve. C) movement up and to the right on a supply curve. D) movement down and to the left on a supply curve.
What is least accurate about marketing and selling in the US prior to the Civil War?
a. Attracting customers was not a main objective of advertising. b. Installment buying was known, but was uncommon until about 1900. c. Most companies eliminated wholesalers to market products directly to their customers and save money. d. Advertising was typically limited to magazines and some occasional outdoor ads in big cities.
The Great Depression provided significant evidence that
a. the economy always worked well on its own b. the economy always reached full employment on its own c. the economy may not always do well on its own d. the notion of laissez faire was correct e. the supporters of the classical model were correct
The money supply will grow faster through deposit creation when the required reserve ratio is:
A. high and banks hold excess reserves. B. high and banks cannot find good customers to lend to. C. low and banks are able to lend out all of their excess reserves. D. low and banks are unable to loan out all of their excess reserves.