What was not one of the problems of the Articles of Confederation?
a. It did not allow the federal government to tax.
b. It did not give the federal government sufficient power to define international relationships.
c. It could not keep the states together as a political union.
d. It did not give the federal government the sole right to mint coins.
c. It could not keep the states together as a political union.
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If the Fed pursues a strategy of targeting an interest rate when fluctuations in money demand are prevalent
A) fluctuations of nonborrowed reserves will be small. B) fluctuations of nonborrowed reserves will be large. C) the Fed will probably quickly abandon this policy, as it did in the 1960s. D) the Fed will probably quickly abandon this policy, as it did in the 1950s.
Why would it be economically inefficient for a firm to charge the price of a good greater than its marginal cost?
What will be an ideal response?
Normal profit
A) is when economic profits are zero. B) is the profit that competition will allow. C) is the opportunity cost of capital. D) all of these choices.
When the implicit cost of capital is positive, then the:
a. firm's accounting profit will be less than its economic profit. b. firm's economic profit will be less than its accounting profit. c. firm's explicit costs will be zero. d. firm is incurring no opportunity costs