If you have a checking account at Citibank, the account is a liability of the bank
a. True
b. False
Indicate whether the statement is true or false
True
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If there are 1,000 identical rice farmers who are each willing to supply 200 bushels of rice at $2 per bushel, what price and quantity combination is a point on the market supply curve for rice?
A) $2 and 200 bushels B) $2 and 200,000 bushels C) $2,000 and 200,000 bushels D) $2,000 and 1,000 bushels E) $2 and 1,000 farmers
A person obtains income by selling the services of the resources that he or she owns
a. True b. False Indicate whether the statement is true or false
Which of the following is a method of reducing the poverty trap?
a. Imposing requirements for work as a condition of receiving benefits b. Ensuring that government benefits are increased gradually over time c. Reducing government benefits by an amount equal to income earned d. Providing a guaranteed minimum income for all needy recipients
Figure 10-4
Starting from long-run equilibrium at point F in , at which of the following points would short-run equilibrium occur following a decrease in resource prices?
a.
I
b.
F
c.
G
d.
H