The difference in price between hardback books and paperbacks is primarily explained by differences in production costs.
Answer the following statement true (T) or false (F)
False
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Marginal cost can be defined as the change in
A. average total cost resulting from the production of an additional unit of output. B. total cost resulting from the production of an additional unit of output. C. average variable cost resulting from the production of an additional unit of output. D. total fixed cost resulting from the production of an additional unit of output.
Explain the funding structure of the Social Security and Medicare programs. Why are these programs in danger of running out of funds in the future?
What will be an ideal response?
The table below shows the data (in millions) for Wells Fargo Bank in September 2007 and September 2008. Suppose that the required reserve ratio is 3 percent
2007 2008 Loans 79 100 Reserves 11 11 Deposits 247 266 The data show that A) the currency drain ratio increased. B) the Federal Reserve must have increased the required reserve ratio. C) Wells Fargo had excess reserves and could create money in 2007. D) Wells Fargo was only able to make more loans in 2008 because it gained more deposits.
The Federal Reserve views commercial bank use of the discount window as
A) something to be used only by commercial banks. B) completely up to the borrower. C) a privilege, not a right for eligible borrowers. D) something to be used only in financial panics.