Recall the Application about the break-even price for growing switchgrass, a perennial grass that is native to the U.S. plains states and is used to create biofuel, to answer the following question(s).Recall the Application. If the minimum average variable cost for switchgrass farmers is $40 per ton and the current price is $35 per ton, in the long run the switchgrass farmer will:
A. exit the industry.
B. operate and lose money.
C. make a positive economic profit.
D. make a zero economic profit.
Answer: A
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Which of the following best defines what money is now and what it has been in the past?
A) currency plus credit cards B) anything accepted as a means of payment C) currency D) anything used as a store of value E) currency plus checking deposits
Disintermediation resulted from
A) interest rate ceilings combined with inflation-driven increases in interest rates. B) elimination of Regulation Q (the regulation imposing interest rate ceilings on bank deposits). C) increases in federal income taxes. D) reserve requirements.
If the income multiplier is equal to 4, then a $25 initial increase in intended investment will lead to a
a. $25 increase in national income b. $1 decrease in national income c. $1 increase in national income d. $100 decrease in national income e. $100 increase in national income
Kmart, Wal-Mart, and Toys 'r' Us import much their goods from ___________.
Fill in the blank(s) with the appropriate word(s).