An upward-sloping trend line depicts long-run economic growth
Indicate whether the statement is true or false
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Refer to Figure 4-1. If the market price is $3.50, what is Kendra's consumer surplus?
A) $9.00 B) $7.50 C) $3.50 D) $0
A perfectly competitive ebook publishing firm currently sells its ebook at the market price of $6. Its average total cost is $5.50. In this case:
a. since average total cost is less than the price, the firm will shut down. b. the firm has positive economic profits. c. the firm is losing money but will continue to operate. d. the firm has zero economic profits.
A bank currently has $50 million in deposits, $6 million in cash in the vault, $4 million on deposit with the Fed, and $5 million in government securities. The reserve ratio is 20 percent. A new deposit is made of $1 million. What is the maximum size loan the bank can make once the check clears?
A. 0 B. $1 million C. $5.8 million D. $800,000
The typical firm in many industries has become ________ over the past 100 years, and efficiently organizing production has become ________
A) larger; more difficult B) smaller; more difficult C) larger; easier D) smaller; easier