The costs of a firm indicate the desire of consumers for
a. the product produced by the firm.
b. other goods that might have been produced with the same resources.
c. goods that can be easily substituted for the good produced by the firm.
d. goods that are complementary with the good produced by the firm.
B
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Excess reserves of banks equal
a. actual reserves minus required reserves. b. actual reserves minus demand deposits. c. assets minus the liabilities of the banks. d. required reserves minus actual reserves.
An increase in the U.S. trade deficit could be caused by
A. The imposition of a tariff on imported goods. B. An appreciation of the dollar. C. An increase in the rate of inflation in other countries. D. A depreciation of the dollar.
If the government's budget is balanced at the start of a recession, and the government is attempting to stabilize the economy through fiscal policy
A. a budget surplus would be expected. B. a budget deficit would be expected. C. government spending, taxes, and transfer payments must all be reduced in a fashion that preserves a balanced budget. D. it should increase government spending, lower taxes, and increase transfer payments in a manner that preserves a balanced budget. E. government spending, taxes, and transfer payments must remain unchanged.
Other things equal, ________ interest rates increase the government deficit because of ________ government interest payments.
A. low; higher B. low; lower C. high; lower D. high; higher