Which of the following would likely be considered as a topic of microeconomics?
A) a nation's unemployment rate
B) Gross Domestic Product
C) the price of apples
D) the effects of fiscal policy on the economy
Answer: C
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If a project costs $600 today and returns $630 next year, the highest interest rate at which the project should still be undertaken is five percent
Indicate whether the statement is true or false
If a customer deposits $1,000 cash into her checking account, the bank's
a. assets rise by $1,000 and liabilities fall by $1,000. b. assets fall by $1,000 and liabilities rise by $1,000. c. assets and liabilities both fall by $1,000. d. assets and liabilities both rise by $1,000. e. profits rise by $1,000.
In the long run, firms in a perfectly competitive market produce:
A. at a quantity with positive economic profits. B. where average variable costs are minimized. C. where MC is at its lowest point. D. where price equals marginal cost.
The monopolist's input demand curve is equal to its
A. marginal cost curve. B. average cost curve. C. variable cost curve. D. marginal revenue product curve.