To find the social cost of an action, add together
A. the external costs and the internal costs.
B. the external and accounting costs.
C. the internal costs and the private opportunity costs.
D. the private costs and the internal costs.
Answer: A
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The above table gives the initial balance sheet for Mega Bank. Mega Bank's desired reserves equal its required reserves. Based on the initial balance sheet, what is the required reserve ratio for Mega Bank?
A) 3 percent B) 10 percent C) 30 percent D) 1.4 percent
Indentured servants were white colonists who sold themselves into slavery when their farms in America failed
Indicate whether the statement is true or false
A natural monopoly, such as the local telephone company, is characterized by
a. a lack of natural competitors b. low fixed costs and diseconomies of scale c. economies of scale d. a lack of government regulation e. constant costs of production
A profit-maximizing monopolist produces an output level at which
a. marginal revenue is the greatest distance from marginal cost b. price is less than marginal cost c. the value to society of the last unit produced equals marginal cost d. marginal revenue equals marginal cost e. consumers wish to purchase less than what is produced because of high monopoly prices