There is always some economic rent whenever the:
A) demand for a factor is downward sloping.
B) supply of a factor is upward sloping.
C) supply and demand intersect.
D) supply of a factor is horizontal.
B
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Based on the above figure, at which level of output does diminishing marginal returns first occur at Ike's Ice Cream Kitchen?
A) at 0 gallons B) at 10 gallons C) at 40 gallons D) at 60 gallons
In the 2000s, low savings rates are attributed to
A) rapid economic growth. B) stock market boom. C) declining interest rates and increased refinancing of the mortgages. D) inefficient monetary policy.
The members of Federal Reserve district bank boards of directors who are bankers are known as
A) Class A directors. B) Class B directors. C) Class C directors. D) Class D directors.
Describe the operation of the Medicare program. Discuss who is covered under the program, how it is financed and the distinction between Part A and Part B of the program
What will be an ideal response?