What was not one of the primary reasons why people opposed the First and Second Banks of the United States?
a. They printed too much money and triggered a substantial inflation.
b. They had monopoly control over some banking activities.
c. They were unconstitutional.
d. They did not provide sufficiently generous lending policies.
a. They printed too much money and triggered a substantial inflation.
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If productive efficiency characterizes a market
A) the marginal cost of production is minimized. B) the output is being produced at the lowest possible cost. C) firms use the best technology available to produce the good. D) firms produce the goods that consumers desire most.
If a firm is wondering whether or not it should "buy or make,"
A) it is exploring its horizontal boundaries. B) it is exploring its vertical boundaries. C) it is exploring the boundaries of its network. D) it is considering a "winner-take-all" event.
Under a system of flexible exchange rates, which of the following will most likely cause a nation's currency to appreciate on the foreign exchange market?
a. a decrease in domestic interest rates b. an increase in foreign interest rates c. domestic inflation of 10 percent while the nation's trading partners are experiencing stable prices d. stable domestic prices while the nation's trading partners are experiencing 10 percent inflation
Joan loves to eat sushi. Her first piece of sushi normally yields a marginal benefit of $5. Each additional piece creates a declining marginal benefit by $0.25 per piece. If her favorite sushi bar charges $2.75 per piece of sushi, how many pieces should she eat?
a. 8 b. 10 c. 5 d. 11