The arrangements that individuals have with each other to exchange goods is known as
A. complements.
B. a market.
C. supply.
D. demand.
Answer: B
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If the marginal cost curve is below the average variable cost curve, then
A) average variable cost is increasing. B) marginal cost must be decreasing. C) average variable cost could either be increasing or decreasing. D) average variable cost is decreasing.
If the reserve requirement is 0.2 and demand deposits are $800 (assume no earlier loans), the banks can lend out
a. $800 b. $80 c. $640 d. $160 e. $960
Asymmetric information is a situation in which
A. information possessed by one party in a transaction is not known by another party. B. private firms have information that they choose to pass along to the government. C. the government has information that it chooses to pass along to private firms. D. information possessed by one party in a transaction is also known by another party.
What are the likely trends for the demand for and the supply of resources in the future?
What will be an ideal response?