A cash withdrawal reduces deposits, reserves, and excess reserves in the banking system
Indicate whether the statement is true or false
TRUE
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In the long run, a perfectly competitive firm can make an economic profit because its marginal cost equals its average total cost
Indicate whether the statement is true or false
Refer to the following graph. The long run equilibrium price would most likely be
a. $1.80.
b. $1.60.
c. $1.20.
d. $0.60.
Which of the following would likely lead to the greatest improvement in health status of the population in the United States?
a. Higher per capita incomes. b. More spending on public health, such as improved water supply and sanitation. c. More medical care spending overall. d. Improved lifestyles, including reductions in the use of tobacco, alcohol, and drugs. e. More rural hospitals.
As a scientist, an economist's main professional objective is to
a. become wealthy b. control the government's decision-making processes c. understand how the economy works d. discover which stock prices will decrease e. understand the psychology of participants in markets