When checks are exchanged between banks, the Fed oversees the banks to ensure the appropriate funds have been transferred. This is known as:
A. check kiting.
B. check clearing.
C. check floating.
D. check balancing.
Answer: B
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Explain what is necessary if a business is to earn economic profits.
What will be an ideal response?
Refer to Figure 4.1. Suppose Alvin chooses Top, while Simon chooses Down, and Theodore chooses Right. Simon's payoff will be
A) 2. B) 8. C) 10. D) 18.
In order for resale price maintenance to increase the quantity of good sold, the shift in the market demand curve must be ________ the shift in the market supply curve.
A) exactly one-half B) more than C) equal to D) less than
An increase in the price of an input to a perfectly competitive industry will: a. increase price and reduce the number of firms
b. increase price and increase the number of firms. c. increase price and have an ambiguous effect on the number of firms. d. reduce the number of firms and have an ambiguous effect on price.