Monetarists argue that the Fed should frequently adjust the money supply in response to ever-changing economic conditions
a. True
b. False
Indicate whether the statement is true or false
False
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A firm produces a good and generates $5 million in receipts. Wages are $3 million, rent is $500,000, and interest payments are $1 million. Then
A) profits are $500,000, the cost of production is $4.5 million, and households receive income equal to $4.5 million. B) profits are $500,000, the cost of production is $5 million, and households receive income equal to $4.5 million. C) profits are $500,000, the cost of production is $5 million, and households receive income equal to $3.5 million. D) profits are $500,000, the cost of production is $5 million, and households receive income equal to $5 million.
In 2012, the bottom one-fifth of U.S. households earned ________ of the nations total income
A) just over 3% B) just under 9% C) approximately 25% D) just under 50%
When the price of a pizza is $10, the quantity of soda demanded is 300 drinks. When the price of a pizza is $15, the quantity soda demanded is 100 drinks. The cross elasticity of demand is equal to
A) -0.25. B) -0.40. C) -2.50. D) -25.00. E) 4.00.
Accountants calculate __________ differently than do economists: a. Total revenue
b. Total costs. c. Profits. d. Both total costs and profits.