The Glass-Steagall Act was designed to
A) legally separate investment banking from commercial banking.
B) promote mergers in the banking industry.
C) impose high capital ratios on investment banks.
D) promote the interests of community banks.
A
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The vertical axis in a graph
A) is named the y-axis. B) is named the x-axis. C) is not used in a scatter diagram. D) has no origin.
Carla is deciding whether to go to the movies this afternoon. Behavioral economists predict Carla likely will:
A. have a difficult time accurately valuing the benefit of the movie. B. have a hard time accurately valuing her opportunity cost of the movie. C. over-value her opportunity cost. D. All of these are true.
A firm experiencing economic losses could be earning accounting profits: a. If implicit costs are greater than zero. b. If implicit costs are equal to zero
c. If implicit costs are less than zero. d. In none of the above scenarios.
Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table. Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 When Ben makes 2 kites per day, what is his average variable cost?
A. $63 B. $50 C. $26 D. $13