________ is/are the market value of final goods and services produced within a country during a given period of time.
A. Transfer payments
B. Value added
C. Consumption
D. GDP
Answer: D
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Firms that participate in regular open market transactions with ________ are called primary dealers
A) Treasury banks B) the Federal Reserve C) mortgage lenders D) commercial banks
A rise in foreign productivity tends to __________ foreign prices and causes the dollar to __________ relative to the foreign currency
A) raise; appreciate B) raise; depreciate C) lower; appreciate D) lower; depreciate
The supply curve of a single-price monopolist
a. coincides with its marginal cost curve above its average total cost curve b. coincides with its marginal cost curve above its average variable cost curve c. is established by the government d. slopes downward due to substantial economies of scale e. does not exist
The law of diminishing returns states that: a. as additional increments of resources are added to producing a good or service, the marginal benefit from those additional increments will increase. b. as society moves from one choice to another, the production of physical capital declines. c. it is impossible to get more of one good without giving up some amount of the other good
d. as additional increments of resources are added to producing a good or service, the marginal benefit from those additional increments will decline.