Funds held in bank accounts that can be withdrawn by depositors at any time without advance notice are called:
A. demand deposits.
B. flow funds.
C. free funds.
D. required reserves.
Answer: A
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If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculate the arc price elasticity
A) -1.92 B) -1.64 C) -4 D) -2
If firms believe that business is expanding, then at any given wage they will desire to hire a _________ quantity of labor, and the labor demand curve shifts to the _____.
a. greater; left b. greater; right c. lower; left d. lower; right
The classical theory predicts that decreases in the supply of savings will _______ interest rates and _______ investment.
Fill in the blank(s) with the appropriate word(s).
When a firm is at its short-run break-even point
A. economic profits are negative but the firm should continue to produce because accounting profits are positive. B. economic profits equal zero and the firm should shut down. C. economic profits are positive. D. economic profits equal zero and the firm is earning a nominal rate of return on investment.