In reality, commercial banks function most like ____ of the district Federal Reserve Banks
a. stockholders
b. regulators
c. customers
d. competitors
c
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Figure 9-1 shows the marginal cost and average total cost curves for a perfectly competitive firm. If the market price is $10, then
a.
the firm earns $10 profit on each unit sold
b.
the firm earns $8 profit on each unit sold
c.
marginal revenue equals $10
d.
the firm is losing money in the short run
e.
marginal cost always equals marginal revenue
Refer to the table below. The average benefit of 4 units of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10 B. $9 C. $4 D. $5
Suppose a vote was taken among 7 district representatives about how much of the city budget should be spent on tourism advertising. Two prefer it to be 10 percent, two prefer 15 percent, and three prefer 50 percent. According to the median voter theorem, the chosen amount to spend on tourism advertising is ________ of the budget.
A. 15 % B. 50 % C. 10 % D. 30 %
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C