For a perfectly competitive firm, price always equals marginal revenue.
Answer the following statement true (T) or false (F)
True
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Which of the following statements about checking deposits is true?
A) It is a liability for both households and banks. B) It is an asset for both households and banks. C) It is an asset for households but a liability for a bank. D) It is a liability for households but an asset for a bank.
If Y = $500 billion, autonomous consumption = $400 billion, and the marginal propensity to save = 0.20, then saving will equal:
a. ?$300 billion. b. $300 billion. c. $0. d. $80 billion. e. ?$80 billion.
The congressional act passed in 1978 that established specific numerical goals for the unemployment rate and the inflation rate to be achieved by 1983 was the
A) Federal Reserve Act. B) Gramm-Rudman Act. C) Employment Act. D) Humphrey-Hawkins Act.
In recent years, what has happened to the role of property tax in funding state and local expenditures?
a. It been increased to replace sales and income tax. b. It has been used to provide grants to the federal government. c. It has been phased out to help older people keep their homes. d. It has been partially replaced with sales and income tax.