Money is useful because it serves as a
A. good memorial to national leaders.
B. stimulus to the printing industry.
C. never wears out.
D. store of value.
Answer: D
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Minimum wage laws:
A) can cause the quantity demanded to exceed the quantity supplied of labor. B) are used to solve the problem of wage rigidity. C) can give rise to wage rigidity. D) help in equating the quantity of labor demanded and supplied.
In the above figure, when the efficient quantity of gloves is produced, the total producer surplus is
A) $3,000. B) $15,000. C) $22,500. D) $45,000.
In long-run equilibrium, the perfectly competitive firm produces
A. where P = MC = AC. B. at the lowest point on its long-run average cost curve. C. where its long-run average cost curve is tangent to its horizontal demand curve. D. All of the responses are correct.
To the corporation, bonds are more risky than stocks because
a. interest rates fluctuate. b. bond interest is a fixed cost. c. investors prefer stocks to bonds. d. speculators manipulate bonds more than stocks.