If the price falls below minimum SRAVC, the quantity supplied by the firm will be
a. the quantity at minimum MC.
b. zero.
c. the quantity at the point where MC intersects AC.
d. the quantity at minimum AC.
b
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Water is plentiful in most of the world, so its price and total utility are low
a. True b. False Indicate whether the statement is true or false
M2 money includes all but which one of the following?
a. Checkable deposits. b. Savings accounts. c. Large denomination time deposits. d. Money market deposit accounts. e. Money market mutual accounts.
The consumer price index (CPI) excludes all of the following goods and services except one. Which type of good is included in the CPI?
a. Raw materials b. Imported goods purchased by consumers c. Machinery purchased by firms d. Goods purchased by the government e. Intermediate goods
Which of the following directs the buying and selling of U.S. government securities?
a. Board of Governors b. District Federal Reserve Banks c. Federal Open Market Committee d. Federal Advisory Council e. member banks