The _____ gives a hunter ownership rights on a bird killed by him while it was flying over his property
a. unitization contract
b. Coasian reasoning
c. rule of first possession.
d. rule of reason
C
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
_______________ sold low-priced, prefabricated homes to people who wanted to move to the suburbs after World War II.
A. Andrew Carnegie B. William Levitt C. Henry Ford D. Cyrus McCormick
Suppose that, for every 1 percentage point decline in the discount rate, commercial banks collectively borrow an additional $2 billion from Federal Reserve Banks. Also assume that the reserve requirement is 10%. If the Fed lowers the discount rate from 4.0% to 3.5%, bank reserves will ________.
A. increase by $1 billion and the money supply will increase by $10 billion B. decline by $1 billion and the money supply will decline by $10 billion C. increase by $1 billion and the money supply will increase by $5 billion D. increase by $10 billion and the money supply will increase by $100 billion
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.PriceQuantityTC$500$10.00$501$20.00$502$27.50$503$77.50$504$147.50$505$250.00According to the table shown, the firm's marginal costs:
A. decrease until the 2nd unit, then increase. B. increase as output increases. C. increase until the 4th unit, then decrease. D. are constant.