Which of the following definitions of the money supply includes only the most liquid forms of money?
A. M1
B. M2
C. Savings deposits
D. Money market mutual deposits
Answer: A
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Happy Cows is a dairy farm that is currently earning $75,000 in economic profit. The managers of Happy Cows are considering adding a second dairy farm, which will generate an additional $30,000 in economic profit. It is economically sound for the managers of Happy Cows to add the second farm if, after accounting for the managerial diseconomies, the first farm's economic profits exceed ________.
A) $35,000 B) $30,000 C) $45,000 D) $25,000
The Great Recession started in the:
a. U.S. real goods sector. b. U.S. real loanable funds market. c. Foreign exchange market. d. Global real goods market. e. All of the above.
If sellers respond to very small changes in price by adjusting their quantity supplied by extremely large amounts, the price elasticity of supply approaches
a. zero, and the supply curve is horizontal. b. zero, and the supply curve is vertical. c. infinity, and the supply curve is horizontal. d. infinity, and the supply curve is vertical.
The long-run supply curve is upward sloping in a constant-cost industry.
Answer the following statement true (T) or false (F)