All of the following are ways a business can earn economic profits except
A. Find new and better methods of production.
B. Take above-average risks.
C. Discover new products.
D. Maximize implicit costs but not explicit costs.
Answer: D
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When the Federal Reserve extends a discount loan to a bank, the monetary base ________ and reserves ________
A) remains unchanged; decrease B) remains unchanged; increase C) increases; increase D) increases; remain unchanged
Which of the following statements about Social Security is FALSE?
A) Social Security is an intergenerational transfer where the benefits paid are only roughly related to past earnings. B) Over 90 percent of all employed workers in the United States are covered by Social Security. C) Benefit payments under Social Security are based on the recipient's need. D) Benefit payments under Social Security redistribute income from young to old.
Investment is equal to all purchases of newly produced capital goods
A) minus changes in business inventories. B) plus fixed investment minus inventory investment. C) plus changes in business inventories. D) plus changes in business inventories plus purchases of new residential housing.
Explain what caused the supply curve to shift more than the demand curve for HD televisions.
What will be an ideal response?