How much of a resource a firm will purchase depends on three things: (1) ________, (2) ________; and (3) __________.
Fill in the blank(s) with the appropriate word(s).
(1) the price of that resource; (2) the productivity of that resource; (3) the selling price of the final product that the resource helps to produce
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If the Fed makes an open market purchase of $1 million of government securities, the monetary base
A) is unchanged in size, though its composition changes. B) will decrease by a multiple of $1 million over time. C) will increase by a multiple of $1 million over time. D) is decreased by $1 million. E) is increased by $1 million.
A social cost that is not fully paid by the individual using an automobile is
A) traffic congestion. B) gasoline and oil. C) insurance. D) depreciation of the vehicle.
Demand deposits are a type of
a. checking account. b. time deposit. c. money market mutual fund. d. savings deposit.
When accounting profits are negative, economic profits could be:
A. negative. B. positive. C. zero. D. All of these are possible.