Efficiency is defined as
A) the maximum consumption of goods.
B) the production of goods and services.
C) production of output at minimum cost.
D) arriving at one's destination quickly.
C
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Which of the following correctly describes what the Fed used as monetary targets in the past?
A) The Fed used M1 and M2 as targets after 1993. B) After 1980 and before the 1990s, the Fed focused on interest rate targets. C) The Fed focused on M1 as a target after deregulation of the financial markets. D) The Fed increased its reliance on interest rate targets since the mid-1990s.
In the long run with free entry and exit and identical firms, are competitive firms' profits positive, zero, or negative?
With railroads, ________ considerations were given to rural areas at the expense of urban areas.
Fill in the blank(s) with the appropriate word(s).
One of the characteristics of a carbon tax is that it would
A. place the heaviest burden on high-income families. B. tend to encourage more usage of cheaper fuels like coal and less usage of expensive energy sources like nuclear energy. C. encourage energy consumers to invest in energy efficiency. D. have little effect on the emission of greenhouse gases.