When the Fed sells government bonds to a bank, the initial effect on the bank is that its
a. assets increase
b. assets remain the same
c. liabilities decrease
d. assets decrease
e. liabilities increase
B
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Can a perfectly competitive firm make an economic profit in the short run? Can it incur an economic loss?
What will be an ideal response?
If a firm's implicit costs are greater than its explicit costs, it tells us nothing about whether a firm is earning economic or accounting profits
a. True b. False Indicate whether the statement is true or false
The union with the largest membership is
A. The International Brotherhood of Teamsters. B. The American Federation of State, County, and Municipal Employees. C. The National Education Association. D. The United Steelworkers of America.
For production to be at the ________ level of output, marginal benefit must equal social cost.
A. shut-down B. loss-minimizing C. efficient D. profit-maximizing