In the short-run, profits will only exist for monopolistically competitive firms
Indicate whether the statement is true or false
F
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The unemployment rate tells us
A) the fraction of people who want to be working but are not. B) the fraction of people who are not working and do not want to be working. C) the fraction of people who are not working and have quit looking for jobs. D) all of the above
Average fixed cost: a. can be calculated by dividing total fixed cost by the level of output produced
b. can be graphed as a horizontal line, with dollars on the vertical axis and quantity on the horizontal axis. c. decreases as output increases. d. is characterized by both a. and c.
The simple deposit expansion multiplier is really too simple for understanding the link between changes in a central bank's balance sheet and the quantity of money in the economy because it:
A. assumes banks hold excess reserves. B. ignores changes in vault cash. C. ignores how central banks could change their balance sheet. D. ignores the fact people might change their currency holdings.
Sam has $500 in traveler's checks. He cashes a $100 traveler check, deposits $150 into his checking account at a Savings and Loan Association, and deposits the remaining $250 into a savings account at a credit union. Immediately, ________.
What will be an ideal response?