If C = $500, I = $150, G = $100, NX = $40, and GNP = $800, how much is NFP?
A) -$10
B) -$5
C) $5
D) $10
D
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When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, which of the following curves slopes downward?
A) SRAS B) AD C) LRAS D) None of the above
A perfectly competitive firm produces 50 units of output, at equilibrium, in the short run. The total cost borne by the firm is $300 and the average revenue is $2 . Therefore, the firm:
a. is just breaking even. b. is earning positive profits. c. is facing a positively sloped demand curve. d. is suffering losses. e. is experiencing diseconomies of scale.
Table 13.1XYZ Bank Balance SheetAssetsLiabilitiesTotal reserves$100,000Transactions accounts$400,000Loans300,000??Refer to Table 13.1. With a required reserve ratio of 20 percent, XYZ Bank could support maximum transactions account balances of
A. $20,000. B. $500,000. C. $300,000. D. $80,000.
Suppose there are three power-generating plants, each of which has access to 5 different production processes. The table below summarizes the cost of each production process and the corresponding number of tons of smoke emitted each.ProcessABCDE(smoke/day)(4 tons/day)(3 tons/day)(2 tons/day)(1 tons/day)(0 tons/day)Cost to Firm X ($/day)$500$514$530$555$585Cost to Firm Y ($/day)$400$420$445$480$520Cost to Firm Z ($/day)$300$325$360$400$550 For all three firms, the marginal cost of pollution abatement is:
A. increasing. B. decreasing and then increasing. C. constant. D. decreasing.