Since the 1930s, the Fed's most important tool for controlling the money supply has been
A) setting the discount rate.
B) setting reserve requirements.
C) moral suasion.
D) open-market operations.
D
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The table above shows techniques that can be used to produce 100 shirts. If the price of an hour of labor is $20 and the price of a unit of capital is $8, then the economically efficient technique is
A) W. B) X. C) Y. D) Z.
When there is a low degree of complementarity between two products, then their indifference curves will:
A. be relatively straight. B. be perfectly straight lines. C. bend sharply. D. be positively sloped.
Refer to Scenario 9.9 below to answer the question(s) that follow. SCENARIO 9.9: Sponsors invest $250,000 in a new greeting card business on the promise that they will earn a return of 10% per year on their investment. The business sells 52,000 greeting cards per year. The fixed costs for the business include the return to investors and $79,000 in other fixed costs. Variable costs consist of wages ($1,000 per week) plus materials, electricity, etc. ($3,000 per week). The business is open 52 weeks per year.Refer to Scenario 9.9. The annual total costs for the business sum to
A. $79,000. B. $104,000. C. $208,000. D. $312,000.
Raising taxes on gasoline __________ the price of gasoline and __________ the number of gallons purchased.
Fill in the blank(s) with the appropriate word(s).