In a competitive market the demand curve shows the ________ received by consumers and the supply curve shows the ________
A) economic surplus; opportunity cost B) utility; average cost.
C) marginal benefit; marginal cost D) net benefit; net cost
C
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A chief reason firms give employees bonuses based on the firm's profit is to cope with
A) the tax laws. B) the law of diminishing returns. C) the principal-agent problem. D) unions.
Possible benefits of a monopoly include which of the following (choose all that apply)? a. a savings of fixed costs because only one firm supplies quantity demanded
b. greater opportunities for research due to long-run positive economic profits. c. government regulation is more effective because the firm is "too big to fail.". d. goods and services are provided at a lower price than under perfect competition because of a monopoly's decreasing average cost curve.
It would be impossible to have an unlevered bank
a. True b. False Indicate whether the statement is true or false
The more rapidly the government creates money to finance its budget deficits, the:
A. smaller the inflation tax and the greater the reduction in the real value of any assets specified in nominal terms. B. smaller the inflation tax and the smaller the reduction in the real value of any assets specified in nominal terms. C. greater the inflation tax and the smaller the reduction in the real value of any assets specified in nominal terms. D. greater the inflation tax and the greater the reduction in the real value of any assets specified in nominal terms.