If free entry and exit were not possible,
A. in the long run firms would break even.
B. in the long run firms would lose money.
C. in the long run firms would make money.
D. It is impossible to tell what would happen without more cost and revenue information.
Answer: D
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M2 is actually a smaller amount than M1
a. True b. False Indicate whether the statement is true or false
Which of the following happens when Henry Hyde pays for the bond by writing a check from his checking account at the Jekyll Bank?
A) Jekyll Bank's checkable deposits decreases by $50,000 and its reserves decreases by $45,000. B) Jekyll Bank's checkable deposits decreases by $45,000 and its reserves decreases by $50,000. C) Jekyll Bank's checkable deposits and reserves decrease by $50,000 each. D) Jekyll Bank's checkable deposits and reserves increase by $45,000 each.
Which of the following items used to produce a product is a capital item?
A. Raw materials B. Land C. Machinery D. Labor
If you could pay for a product according to the marginal utility that you gain from additional consumption, then as you consume more of a product the price you pay would
A) remain the same. B) increase. C) be deferred. D) decline.