When a firm earns a normal rate of return, it
A. suffers a loss.
B. earns a profit.
C. breaks even.
D. should shut down.
Answer: C
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When cash is withdrawn from a checkable-deposit account at a bank, the
A. composition of money supply M1 does not change. B. money supply M1 increases. C. money supply M1 does not change but its composition changes. D. money supply M1 decreases.
Using supply and demand curve analysis, the triangular area above the equilibrium price and under the demand curve is:
a. consumer surplus. b. producer surplus. c. marginal cost. d. deadweight loss.
Under a target price system, the government can adjust the deficiency payment paid to a farmer by deciding to pay some percentage of the difference between the target price and the market price.Indicate whether the statement is true or false
For most families, a majority of their property comes from
A. inheritance. B. transfer payments. C. redistribution programs. D. savings.