If a bank receives a $1 million discount loan from the Federal Reserve, then the bank's reserves will
A) not change. B) increase by less than $1 million.
C) increase by $1 million. D) increase by more than $1 million.
C
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The following table shows cost data for a perfectly competitive firm.OutputAverage Fixed CostAverage Variable CostAverage Total CostMarginal Cost1$300$100$400$1002150752255031007017060475731488056080140110650901401407431031461808381191562309331381712901030160190360If the market price for the firm's product is $180, the firm will produce
A. 8 units and earn economic profits of $278. B. 8 units and earn economic profits of $120. C. 7 units and earn economic profits of $238. D. 7 units and earn economic profits of $278.
A soil bank program usually accompanies a price ceiling program in agriculture
Indicate whether the statement is true or false
If workers always see inflation coming, and if they demand wage increases in advance so that inflation does not erode real wages, then the economy's aggregate supply curve on the AD-AS diagram will
a. be a vertical line corresponding to potential GDP. b. be a horizontal line corresponding to potential GDP. c. slope downward. d. slope upward.
Refer to the table shown. If seven workers are employed, total output equals:Number of workersMarginal product of workers1527384105116775839010?1
A. 5. B. 35. C. 56. D. 53.