Which country was among the lowest ranking by the World Bank for effective protection of property rights and rule-based governance?
a. South Korea
b. Venezuela
c. Central African Republic
d. Iran
c. Central African Republic
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Consider a short-run equilibrium in a perfectly competitive market. Suppose that the firms' average total cost and marginal cost schedules differ. In the short run,
A) all firms in the market must be able to make an economic profit. B) all firms produce equal amounts of output. C) some firms might incur an economic loss, but still produce output. D) some firms might make an economic profit and, as a result, shut down. E) all firms in the market must be able to make either positive or zero economic profit.
In an increasing-cost industry the long-run supply curve is upward sloping
Indicate whether the statement is true or false
Which of the following policy actions by the Fed would cause the money supply to increase?
a. An open market sale of government securities. b. An increase in required reserve ratios. c. An increase in the discount rate. d. An open-market purchase of government securities.
Mention the different aspects of specificity of an asset