Which of the following is the most important protection against fears of bank collapse?
A. the Federal Reserve
B. the Federal Reserve Open Market Committee
C. the Federal Deposit Insurance Corporation
D. the gold and silver that backs Federal Reserve notes
Answer: C
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A firm sells a product in a perfectly competitive market. The marginal cost of the product at the current output level of 500 units is $1.50. The minimum possible average variable cost is $1. The market price of the product is $1.25. To maximize profits, the firm should
A. decrease production to less than 500 units. B. increase production to more than 500 units. C. continue producing 500 units. D. shut down.
If a market is allocatively efficient,
a. firms are minimizing marginal cost b. firms are minimizing total cost c. consumers are minimizing expenditures d. it must be impossible to increase total utility e. it must be impossible to decrease output
The labor force participation rate among women 25 to 54 ________ between 1950 and 2000.
A. fell dramatically B. stayed relatively constant C. rapidly vacillated D. rose dramatically
If demand and supply have the same elasticity, the seller will pay ________ of a tax.
Fill in the blank(s) with the appropriate word(s).