If the average variable cost of the fifth hat is $30, then the total variable cost of five hats is
A) $6.
B) $150.
C) $1800.
D) indeterminate from this information.
B) $150.
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A major objective of tax policy should be to
a. avoid distortions in resource allocation while raising revenue b. divert savings from the private to the public sector c. increase the government's ability to direct the economy d. supplement resources entering the country from foreign aid e. all of the above
Unused lines of credit on credit cards are part of M2
a. True b. False Indicate whether the statement is true or false
Banks are considered a safer place to deposit money now than they were prior to 1933 because
a. gold reserves have increased. b. reserve requirements are higher. c. the creation of the FDIC reduced the likelihood of bank runs. d. the commercial banks are no longer permitted to extend loans to the Federal Government.
If the quantity of money supplied exceeds the quantity of money demanded at a given point in time, _____
Fill in the blank(s) with the appropriate word(s).