When accounting profits are zero, which of the following is most likely to be true?
A. Economic profits are negative.
B. Economic profits could be positive.
C. Economic profits could be zero.
D. All of these are likely.
Answer: A
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Jason is a Web page designer. He estimates that this summer, he has a 0.6 probability of making $10,000 and a 0.4 probability of making only $2,000. What is Jason's expected income this summer?
A) $12,000 B) $6,800 C) $6,000 D) $10,000
Banks acquire the funds that they use to purchase income-earning assets from such sources as
A) cash items in the process of collection. B) savings accounts. C) reserves. D) deposits at other banks.
Moving upward along an LM curve, ________ quantity of real money balances is equally demanded as higher real incomes are accompanied by ________ interest rates
A) an increasing, rising B) an increasing, falling C) a decreasing, falling D) a constant, rising E) a constant, falling
A period of stagflation is part of the normal aftermath of a period of excessive aggregate demand.
Answer the following statement true (T) or false (F)