The rate of interest banks charge other banks for overnight loans of reserves is the
A) prime rate. B) discount rate. C) federal funds rate. D) real rate.
C
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Refer to the table above. The opportunity cost per dollar of value added in designing shoes by workers in Eduland is ________
A) $0.25 B) $0.50 C) $4 D) $12
An upward-sloping supply curve shows that
A. buyers are willing to pay more for a scarce product. B. suppliers are willing to increase production of their goods if they can receive higher prices for them. C. buyers are unaffected by sellers’ costs of production. D. the price of a product is not influenced by the price buyers are willing to pay. E. at higher prices, an envy effect begins to affect the demand curve.
The above figure represents a restaurant operating in monopolistic competition
a. What is the profit-maximizing level of output? b. What price will the firm charge? c. What is the firm's profit (or loss)? d. Is this a long-run equilibrium? Why or why not? e. Is this firm producing its efficient scale of output?
If the consumption function can be described as C = 200 + .80Y, the marginal propensity to save is equal to
A) -0.80. B) 0.80. C) 0.20. D) 200.