Microeconomics is best described as the study of
A. inflation, unemployment, gross national product, and the nation's economy as a whole.
B. the choices made by individual households, firms, and governments.
C. marginal changes in the economy.
D. how markets interact in the aggregate economy.
Answer: B
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The decline in the relative importance of transactions deposits as a source of bank funds between 1970 and 1997 can be attributed to
A) the general increase in interest rates on other types of assets. B) movements of transactions deposits to thrifts. C) the extension of unlimited check writing privileges to many non-transactions deposits. D) the increase in large-sized negotiable CDs as sources of bank funds.
In comparing money to shares of Apple stock, we can say that
A) money is a store of value, but shares of Apple stock are not. B) shares of Apple stock are a store of value, but money is not. C) both money and shares of Apple stock are stores of value. D) neither money nor shares of Apple stock are stores of value.
A monopoly will be maximizing profits if it is operating at the point where:
a. price is at a maximum. b. average cost is at a minimum. c. average cost is at a maximum. d. marginal cost is at a minimum. e. marginal revenue = marginal cost.
The marginal product of land depends on the quantity of land that is available
a. True b. False Indicate whether the statement is true or false