Marginal cost is the increase in total cost associated with a one-unit
A. Increase in input usage.
B. Decrease in input usage.
C. Increase in production.
D. Decrease in production.
Answer: C
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Government regulations that worsen the performance of financial institutions include:
a. interest rate ceilings b. reserving a minimum portion of loans for rural borrowers c. a high percentage of deposits kept in reserve d. subsidies for low-income borrowers e. all of the above
Which one of the following is a tool of monetary policy for altering the reserves of commercial banks?
a. Issuing currency b. Acting as the fiscal agent for the Federal government c. Check collection d. Open-market operations
Which of the following best describes an economy with full employment?
A. "Full employment occurs only when the economy has a zero percent unemployment rate." B. "No person is unemployed for whatever reason." C. "The level of unemployment that corresponds to the normal friction in the labor market." D. "Everyone who is looking for a job will have one."
The three fundamental questions that any economy must address are
A) What will be the prices of goods and services; how will these goods and services be produced; and who will receive them? B) What goods and services to produce; how will these goods and services be produced; and who receives them? C) Who gets jobs; what wages do workers earn; and who owns what property? D) How much will be saved; what will be produced; and how can these goods and services be fairly distributed?