Accounting profits can tell a business _______________________, and economic profits can tell a business ______________________.
A. if it is making money with this venture; if it can make more money with a different venture
B. if it can make more money with a different venture; if it is making money with this venture
C. if it is a profitable business; if it can be any more profitable
D. if it can be any more profitable; if it is profitable
A. if it is making money with this venture; if it can make more money with a different venture
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The participation rate is the number of people:
A. employed and unemployed divided by the population aged 16 years and older. B. employed divided by the population aged 16 years and older. C. employed and unemployed divided by the labor force. D. employed divided by the labor force.
All are examples of government purchases that would be included in GDP except:
A. pencils for the employees of the FBI to use. B. the salaries of those in the military working in California. C. salaries paid by government to foreign contractors in Iraq. D. replacement calculators for the Congressional Budget Office.
The point where the budget constraint and an indifference curve are tangent
A. Indicates profit maximization. B. Represents the optimal consumption point. C. Represents maximum total revenue. D. Indicates the optimal level of production.
Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 20 percent, an initial deposit of $850 will lead to total deposits of:
A. $425. B. $850. C. $4,250. D. $42,500.