The figure above shows a consumer is indifferent between points
A) d and c.
B) a, b, c, d, and e.
C) e and d.
D) b and a.
D
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The reserve requirement is 0.10. What is the simple deposit multiplier?
A) 2 B) 20 C) 0.2 D) 10
A firm's opportunity costs of using resources provided by the firm's owners are called
a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. entrepreneurial costs
Smith and Jones comprise a two-person economy. Their hourly rates of production are shown in the accompanying table. Calculators Per HourComputers Per HourSmith10010Jones1206 If Smith and Jones are dividing their time efficiently and producing fewer than 10 computers and more than 120 calculators per hour, then Smith will ________ and Jones will ________.
A. produce only computers; produce only calculators B. produce only calculators; produce only computers C. split his time between computers and calculators; produce only calculators D. produce only calculators; split his time between computers and calculators