What rule must be followed to obtain an efficient allocation of resources?
a. P = AC.
b. P = MC.
c. P = AR.
d. MR = AC.
b
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A firm's long-run average cost curve is derived from a series of short-run average total cost curves
Indicate whether the statement is true or false
The disposal and settlement of the public lands, according to Hughes and Cain (2011),
(a) went pretty much, in practice, as Jefferson had envisioned. (b) had both intended and unintended consequences. (c) occurred in an orderly and efficient manner for the most part. (d) was adequately funded and well-organized in execution.
The "urban consumers" that the CPI is based on includes anyone living in a city of:
A. 2,500 or more. B. 50,000 or more. C. 100,000 or more. D. 150,000 or more.
The U.S. Treasury both pays and receives almost all of the interest on that portion of the national debt that is held by
a. domestic investors. b. foreign investors. c. government agencies and the Federal Reserve system. d. commercial banks.