Refer to the graph shown. Total fixed cost of producing Q* is represented by:
A. area ABEF.
B. area ACDF.
C. area 0Q*AF.
D. cannot be determined.
Answer: A
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When Zane deposits $20,000 cash in his checkable deposit at the Citicorp and the Citicorp's desired reserves increase by $5,000, the desired reserve ratio is
A) 25 percent. B) 75 percent. C) 5 percent. D) 20 percent. E) $5,000.
Economic theory assumes people want
A) material goods primarily. B) money in preference to all other goods. C) more of everything. D) to advance the projects in which they are interested. E) what serves selfish rather than altruistic goals.
The General Agreement on ___________ and Trade (GATT) was established to provide a forum in which nations could come together to negotiate reductions in tariffs and other barriers to trade.
a. Travel b. Taxes c. Tariffs d. Transfers
The Federal Funds Market provides for day to day lending and borrowing among banks having excess reserves on account at the Fed
Indicate whether the statement is true or false