Federal Reserve credit is equal to bank borrowing plus U.S. government security holdings plus
A) currency outstanding.
B) capital accounts.
C) float.
D) bank reserves.
C
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Janelle spends all of her $40 income on songs from iTunes ($1 each) and applications ($4 each) for her iTouch. What is her budget equation?
A) $1 × Qsong - $5 × Qapp = Y B) Qsong = 10 - 4 × Qapp C) $40 + $1 × Qsong = $4 × Qapp D) Qapp = 10 - 1/4 × Qsong
Production involving a positive externality is inefficient
a. True b. False
Suppose a profit-maximizing firm in a competitive market produces rubber bands. When the market price for rubber bands falls below the minimum of its average total cost, but still lies above the minimum of average variable cost, in the short run the firm will
a. experience losses but will continue to produce rubber bands. b. shut down. c. earn both economic and accounting profits. d. raise the price of its product.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Along budget constraint AC, the opportunity cost of one hamburger
A. is 1/4 of a hot dog. B. is 1/2 of a hot dog. C. is 2 hot dogs. D. changes as you move down along the budget constraint.