A miniature golf course is a good example of where fixed costs become relevant to the decision of when to open and when to close for the season
a. True
b. False
Indicate whether the statement is true or false
False
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The economic system that includes private ownership of most resources and the coordination of economic activity by price signals generated by market forces is
a. capitalism b. socialism c. communism d. mercantilism e. progressivism
If the demand for reserves remains constant and the market federal funds rate is below the target rate, the Fed would:
A. do nothing; the Fed will let the market work. B. decrease the IOER. C. increase the supply of reserves. D. increase the IOER.
Economics, generally speaking, is primarily concerned with:
A) the operation of the bond and stock markets. B) the issues of income inequality or income equality. C) how people choose among the alternatives available to them. D) ceteris paribus, the scientific method, and the margin.
If the price of gasoline increases and car dealers experience a decrease in demand for sport utility vehicles, then gasoline and sport utility vehicles are:
a. Substitutes b. Complements c. Inferior goods d. Unrelated goods