Demand shows the ________relationship between __________and ________________.
a. direct; price; quantity
b. inverse; price; quantity
c. inverse; supply; quantity
d. direct; supply; quantity
b. inverse; price; quantity
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Legal reserve requirements on banks in the United States today are primarily
A) a limitation on banks' ability to make loans. B) a protection for bank depositors against runs. C) a protection for bank shareholders against capital loss. D) an attempt to restrain the market power of banks. E) designed to control competition among banks.
If the real gross domestic product (GDP) for the base year is $3 trillion, then the nominal gross domestic product (GDP) for that year is _____
a. ?$.03 trillion b. $0.3 trillion c. $3 trillion d. $30 trillion e. $300 trillion
Corruption laws are designed to prevent multinational corporations from using unethical means to obtain competitive advantage in a particular market.
Indicate whether the statement is true or false.
If a firm's revenues just cover all its opportunity costs, then:
A. Normal profit is zero B. Economic profit is zero C. Total revenues equal its explicit costs D. Total revenues equal its implicit costs