The shape of the long-run average cost curve reflects
a. market demand
b. economies and diseconomies of scale
c. increasing and diminishing marginal returns
d. productivity of fixed inputs
e. all of the above
B
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The quantity of reserves held by a bank in addition to the legally required amounts is known as:
a. actual reserves. b. excess reserves. c. the required reserve ratio. d. the money multiplier. e. the monetary base.
If a firm goes out of business because of negative economic profits, its books
A) might indicate a positive accounting profit. B) might indicate that opportunity costs were zero. C) might indicate that taxes are too high. D) might suggest a mistaken value of explicit costs.
Answer the following statement(s) true (T) or false (F)
1. Contaminants such as pollen and salt spray are known as anthropogenic pollutants. 2. Prior to the 1950s, all air quality laws in the United States had been enacted at the state and local levels of government. 3. The first federal air pollution legislation was the Clean Air Act of 1963. 4. One of the hallmarks of the 1990 Clean Air Act Amendments is its integration of market-based policy instruments, such as the use of tradeable allowances to control emissions. 5. The Clean Air Interstate Rule (CAIR), which was part of the 2004 Clean Air Rules, was considered to be the most important environmental initiative enacted by the Bush Administration.
In general, it is easier to negotiate the purchase of noncontiguous parcels of land than it is to negotiate the purchase of similar land parcels that are contiguous
Indicate whether the statement is true or false