Which of the following is a checkable and debitable account?
A) a savings account
B) a brokerage account with your stockbroker
C) a checking account
D) All of the above are checkable and debitable accounts.
C
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"The law of diminishing returns is the same as the decreasing returns to scale." Do you agree? Explain
What will be an ideal response?
It is possible for an economy to produce more than its potential level of output, at least for a short period of time
a. True b. False
Figure 4-13
Refer to . The supply curve S and the demand curve D1 indicate initial conditions in the market for flu shots. A new government program is implemented that grants buyers a $25 subsidy when they buy a flu shot, shifting the demand curve from D1 to D2. Which of the following is true for this subsidy given the information provided in the figure?
a.
The original price of a flu shot was $75, and after the subsidy, it rises to $90.
b.
$65 represents the net price a buyer must pay for a flu shot after taking into account the subsidy payment.
c.
Buyers of flu shots will receive an actual benefit of $10 from the subsidy, while sellers of flu shots will receive an actual benefit of $15 from the subsidy.
d.
All of the above are true.
Which of the following is an example of a "how much" decision?
A) The Pleasantville movie theatre is open only in the evenings. The theatre's manager is debating whether to add daily matinee shows. B) The Zhous have demolished their old home and are debating whether to build a ranch-style house or a Craftsman home. C) You're planning to hold a graduation party and must decide between having your party catered or having a pot-luck. D) Chelsea has withdrawn from the swim team to take a full-time job.