Javier has been thinking about purchasing a bond but is afraid that the bond will lose value. He has decided to hold money instead. This is known as the
A) money balance demand for money. B) precautionary demand for money.
C) transactions demand for money. D) asset demand for money.
D
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A firm's marginal cost is $30, its average total cost is $50, and its output is 800 units. Its total cost of producing 801 units is
A) less than $40,000. B) between $40,000 and $40,050. C) between $40,050 and $40,080. D) greater than $40,080.
Katz and Krueger found that minimum wage laws had a negligible impact on teenage unemployment in the fast-food industry. Describe the characteristics of labor demand and supply that might produce such a result
What will be an ideal response?
Diversification reduces the risk that ________ face with ________ cost.
A) firms; little to no B) shareholders; little to no C) firms; zero D) shareholders; high
The perfectly competitive firm faces
A) a downward sloping demand curve. B) a horizontal supply function. C) perfectly elastic demand. D) constant marginal costs.