Entry into a perfectly competitive industry occurs whenever:
A. economic profit is equal to zero.
B. accounting profit is equal to zero.
C. economic profit is greater than zero.
D. accounting profit is greater than zero.
Answer: C
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The Department of Education noticed that for loans granted to students without any strings, the average grade point average of the students decreases dramatically over time. Which one of the following can it use as a solution?
a. Renew the loans only if the students pass their courses b. Renew the loans regardless of students' passing c. Never renew the loans d. Shut down the Department of Education
Among the liabilities of a bank are its
A. loans. B. total reserves. C. excess reserves. D. transaction deposits.
The number of vehicle types available in the United States has increased dramatically over the past thirty years. Everything else equal, this would make
A) the demand for individual vehicle types to become less elastic. B) the demand for individual vehicle types to become more elastic. C) the demand for all vehicle types to become unitary elastic. D) the demand for low quality vehicle types to become less elastic.
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. Curve 3 is Outdoor Equipment's
A. marginal cost curve. B. average variable cost curve. C. average fixed cost curve. D. average total cost curve.