Ways to ration goods include
A) first-come, first-served.
B) political power.
C) prices.
D) all of the above.
D
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What will happen to the sizes of the M1 money supply and the M2 money supply if the following transactions take place?
a. Tasha withdraws $3,000 from her checking account and holds it as currency. b. Arturo withdraws $3,000 from his savings account and deposits it in his checking account. c. Benjamin withdraws 3,000 from his savings account and puts it in a certificate of deposit (CD). d. Marisol withdraws $3,000 from her home safe and deposits it in her savings account.
When economic profits are zero for a firm, it means that:
A. accounting profits are also zero. B. no firms will enter or exit the industry. C. average revenue slightly above average total cost. D. average variable costs are minimized.
An expected increase in the future price of automobiles will lead to
A. a movement down the demand schedule for automobiles. B. a reduction in the demand for gasoline today. C. no predictable impact on today's demand for automobiles. D. an outward shift in demand for automobiles today.
The neoclassical synthesis had emerged by what decade?
A) 1930s B) 1940s C) 1950s D) 1960s E) 1990s