For productive efficiency to hold
A) average variable cost is minimized in production.
B) average total cost is minimized in production.
C) price must equal the marginal cost of the last unit produced.
D) price must equal marginal revenue of the last unit sold.
B
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Which of the following holds the reserves of private banks in the United States?
A) The Treasury Department B) The Fed C) The Pentagon D) Various venture capitalists
The type of unemployment that arises from a decrease in real GDP is called
A) frictional unemployment. B) structural unemployment. C) downturn unemployment. D) non-expansion unemployment. E) cyclical unemployment.
What is meant by the expected rate of return?
What will be an ideal response?
Of the following examples, expenditures on ______ will most likely increase dramatically when the GDP rises.
a. HDTVs b. pants c. cough drops d. milk