Marginal factor cost is computed as
A) total cost of the resource/total amount of the resource being used.
B) change in the total cost of the resource/total amount of the resource being used.
C) total cost of the resource/change in the amount of the resource being used.
D) change in the total cost of the resource/change in the amount of the resource being used.
D
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If the Fed sells a U.S. Treasury bill to a member of the public, the banking system has
a. less reserves and the money supply tends to fall. b. more reserves and the money supply tends to fall. c. less reserves and the money supply tends to grow. d. more reserves and the money supply tends to grow.
The funding of public education is
A. provided by Social Security. B. a private program. C. done by voluntary contributions. D. a subsidy program.
Under the bimetallic system, when did the U.S. experience a depletion in its reserve species?
(a) When imports exceeded exports (b) When exports exceeded imports (c) When the U.S. closed its borders to all international trade (d) When the trading partners of the U.S. refused all U.S. imports
Self-adjustment of markets is assumed in:
A. Classical economic theory. B. Keynesian theory. C. Supply-side economic theory. D. The eclectic viewpoint.