Efficiency in output requires which of the following?
A. MC = MRP
B. MC = MFC
C. MC = MU
D. MC = AVC
Answer: C
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If the price of good X increases by 1 percent, then the quantity supplied increases by more than 1 percent. This means
A) supply is elastic. B) supply is unit-elastic. C) supply is inelastic. D) the good has good substitutes.
Structural unemployment is a special type of cyclical unemployment
a. True b. False Indicate whether the statement is true or false
If banks are currently holding zero excess reserves and the Fed raises the required reserve ratio, which of the following will happen?
A) Banks will have a reserve deficiency. B) Banks will have positive excess reserves. C) Banks will begin to extend more loans. D) Banks will begin to extend more credit. E) b and d
which of the following is a private owner prohibited from doing?
What will be an ideal response?