Identifying any positive sales quantities at which MR = MC (and determining which positive sales quantity is best if there is more than one) is the description of what rule?
A. Interior Action Rule
B. Quantity Rule
C. Shut-down Rule
D. Profit-maximizing Rule
B. Quantity Rule
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If the money supply is $200 million, the reserve requirement is 20%, and currency holding $10 million, then reserves are
a. $10 million. b. $40 million. c. $30 million. d. $40 million. e. none of the above
When quantity demanded is greater than quantity supplied
A. price will fall to its equilibrium price. B. price will rise to its equilibrium price. C. price may rise, fall, or stay the same, depending on a variety of factors.
Producers' surplus is the difference between the price __________ receive for a good and the __________ price for which they would have __________ the good
A) sellers; maximum; sold B) buyers; maximum; bought C) sellers; minimum; sold D) buyers; minimum; bought
A notable macroeconomic effect of the bursting U.S. housing bubble in 2007 was a
A. dramatic contraction of aggregate consumption spending. B. marked expansion in the construction sector of the economy. C. modest reduction in Real GDP growth of one percentage point. D. all of the options are correct.