If the marginal revenue from a quality improvement is ________ its marginal cost, it ________ profitable to produce a higher-quality product.
A) less than; is
B) greater than; is
C) exactly double; is not
D) greater than; is not
B) greater than; is
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Changes in conditions of supply and demand lead to price changes. For which of the following types of goods is the change in price likely to occur most quickly?
A) Commercial rents B) Hourly labor C) Public utilities D) Residential rents E) Retail groceries
Policy makers usually wait for ________ months of data to confirm a change
A) two B) three C) four D) six
To correct for market failure, the government could impose a tax on the producer
Indicate whether the statement is true or false
The reserves of financial institutions:
a. Are made up mainly of government securities and high quality corporate bonds. b. Are assets that financial institutions try to maximize. c. Are assets that financial institution's try to keep at the legal limit. d. None of the above is correct. e. Are the largest liability in a financial institution's balance sheet.