The Oh So Humble Bakery sells 300 muffins at a price of $1 per muffin. Its explicit costs for producing 300 muffins are $250. The Oh So Humble Bakery's economic profits are
A. $35.
B. $50.
C. $250.
D. indeterminate from this information.
Answer: D
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Reserves are equal to the sum of
A) required reserves and excess reserves. B) required reserves and vault cash reserves. C) excess reserves and vault cash reserves. D) vault cash reserves and total reserves.
Producer surplus is represented by ______.
a. the area below the market supply curve and above the market price b. a sharp downward slope of the supply curve c. the area above the market supply curve and below the market price d. the point where the supply and demand curves intersect
Producers try to sell goods that are ______.
a. worth more to them than to the purchaser b. worth an equal amount to them as the asking price c. worth less to them than the asking price d. worth more to them than the asking price
Fred purchases a bond, newly issued by the Big Time Corporation, for $10,000. The bond pays $400 to its holder at the end of the first, second, and third years and pays $10,400 upon its maturity at the end of four years. The principal amount of this bond is ________, the coupon rate is ________, and the term of this bond is ________.
A. $10,000; 4%; four years B. $10,000; $400; 4% C. $400; 40%; four years D. $10,400; 4%; four years