Interest income minus interest expenses divided by assets is a measure of bank performance known as the
A) operating income.
B) net interest margin.
C) return on assets.
D) return on equity.
B
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The marginal productivity theory of income states that a person's total income is determined by
A) how much the individual works. B) how profitable the firm the individual works for is. C) how much the individual has inherited. D) the amount and productivity of factors of production the individual owns.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P, where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. The Cournot model describes the competition in this market. If Alice produces 5,000 cubic yards per year, what is Kate's inverse demand function?
A. P = 75 - 0.005QK B. P = 75 - 0.005QA C. P = 150 - 0.005QK D. P = 175 - 0.005QA
Automatic stabilizers are so-named because
A) they are automatically undertaken by the Federal Reserve Bank to reduce budget deficits. B) they occur automatically when real GDP changes. C) the policy suggestions of the Council of Economic Advisors are automatically followed. D) the policy suggestions of the Office of Management and Budget are automatically followed.
Economic profit that stems from entrepreneurship reflects
a. market power achieved through the use of public policy that restricts entry into a market. b. the ability of some individuals to recognize and undertake economically beneficial projects that have gone unnoticed by others. c. windfall gains due to unanticipated changes in weather. d. the influence of special interest groups on the market process.