All of the following are shown on a firm's income statement except
A) revenues B) rate of return for investors
C) costs D) profits
B
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Banks prefer __________ hold excess reserves because __________
A) not to; excess reserves earn no interest B) not to; banks are not required to hold them C) to; excess reserves earn interest D) to; banks need them to prevent runs
The situation in which a person places greater value on a good as fewer and fewer people possess it is called the
A) Bandwagon Effect. B) Greater Value Effect. C) Snob Effect. D) Behavioral Effect.
The purchase price of capital is
a. the value of the capital to the firm. b. always less than the rental price. c. the price received from the flow of some capital services. d. the price a person pays to own that factor of production indefinitely.
Long-run macroeconomic equilibrium occurs when the aggregate demand curve ________ the short-run aggregate supply curve, and they ________ the long-run supply curve
A) intersects; intersect at a point to the right of B) intersects; intersect at a point on C) is steeper than; intersect at a point to the left of D) is flatter than; intersect at a point to the right of