From 2000 to 2009, the net annual inflow of illegal immigrants has averaged about:
A. 250,000 per year
B. 500,000 per year
C. 750,000 per year
D. 1 million per year
A. 250,000 per year
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In order to maximize profits in the short run, a price taker should always produce at the output level where marginal cost is equal to price.
Answer the following statement(s) true (T) or false (F)
A competitive market maximizes social welfare because in a competitive market,
A) profits are zero. B) price equals marginal cost of the last unit produced. C) price equals average cost of the last unit produced. D) there is free entry and exit.
When someone is producing at standard it is called
a. role b. role conflict c. norm d. status
Suppose the money multiplier is 5. If banks hold excess reserves, the required reserve ratio must:
A. equal 0.20. B. be less than 0.10. C. be greater than 0.20. D. be less than 0.20.