The hyperinflation of the Revolutionary War period was in part caused by the issuance of paper money with a face value in ______ of dollars
a. millions
b. tens of millions
c. hundreds of millions
d. billions of dollars
c. hundreds of millions
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Cost-of-service regulation allows regulated companies to charge prices that
A) reflect the cost of regulating the industry, plus the marginal cost of the product. B) allow monopoly profits to the producer. C) reflect the actual average cost of providing the services to the customer. D) are determined by competition in other geographic markets.
If you were a government official and wanted to raise the price of wheat, which of the following actions would you take?
a. Take wheat from government storage and sell it. b. Encourage farmers to use more fertilizer. c. Lower the price of rye. d. Subsidize purchases of farm equipment. e. Encourage farmers to grow less wheat.
Geo Sports, a football gear manufacturer, is considering expanding its factory. Which of the following describes the best conditions for a factory expansion?
a. The long-run average total cost curve is a horizontal line. b. The slope of the long-run average total cost curve is positive. c. The slope of the long-run average total cost curve is negative. d. The slope of the long-run average total cost curve is zero.
Which of the following would be most likely to improve the standard of living of a less-developed country?
What will be an ideal response?