What word describes the money that a business pays for its inputs?
A. Production
B. Cost
C. Output
D. Revenue
Answer: B
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Changes in interest rates cause the same rotations of intertemporal budget lines regardless of whether you are a borrower or a saver.
Answer the following statement true (T) or false (F)
Which of the following explains the ability of the U.S. economy to avoid diminishing marginal returns and experience accelerating growth in the early to mid-20th century?
A) immigration B) additions of a greater amount of capital of the same quality C) a decrease in the quality of labor D) continuing technological change
A monopoly has
a. A perfectly elastic demand curve b. A perfectly elastic supply curve c. An inelastic demand curve d. A less elastic demand curve than a competitive firm
Bank A has checkable deposits of $510 million and total reserves of $55.2 million. The required reserve ratio is 9 percent. The bank has excess reserves of ______________ million.
A. $9.3 B. $50.2 C. $454.8 D. $45.9