M2 money includes all the following except
a. demand deposits
b. savings accounts
c. large repurchase agreements
d. money market mutual accounts
e. small time deposits
C
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The above table shows the short-run total product schedule for the campus book store. With which employee do diminishing marginal returns set in?
A) the 9th employee B) the 6th employee C) the 5th employee D) the 2nd employee
Suppose the market demand for milk is Qd = 150 - 5P. Additionally, suppose that a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run there is free entry into the market. Suppose the demand for milk doubles. How many new firms enter the market in the long run due to the increased demand?
A. 10 B. 20 C. 100 D. 2
An economist left his $100,000-a-year teaching position to work full-time in his own consulting business. In the first year, he had total revenue of $200,000 and business expenses of $150,000 . He made a(n):
a. implicit profit. b. economic loss. c. economic profit. d. accounting loss but not an economic loss. e. zero economic profit.
Which of the following would be classified as a differentiated product produced by a monopolistic competitor?
a) natural gas b) tap water c) electricity d) Channel No. 5